Export Development Act, No. 40 OF 1979.

This Act is enacted provide for the constitution of the Sri Lanka Export Development Council of Ministers and the establishment of the Sri Lanka Export Development Board.
The main powers and functions of the Sri Lanka Export Development Board include: (a) to advise the Export Development Council of Ministers on the national export development policy and programmes ; (b) to recommend to the Export Development Council of Ministers policies and measures on export-oriented investment; (e) to recommend the adoption of trade agreements or negotiation of inter-country commercial policy, financial and other related arrangements that will facilitate the development of export from Sri Lanka; (d) to formulate a national export development plan and programme for approval by the Export Development Council of Ministers; (e) to monitor the implementation of the national export plan and programme and actively assist in the implementation of the plan ; (f) to facilitate the development of supplies of export products ; (g) to administer the Export Development Fund and implement all programmes of assistance for export production and marketing in close co-operation wife the various agencies of the Government and of trade and industry; etc.