The minister may also appoint two others who are experts in marketing, law, finance or related profession.
"The idea is have the government and the private sector work hand in hand and facilitate that," information minister Rambukwelle said.
"That should be the core of tourism in Sri Lanka.
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Minister Rambukwelle said the cabinet of ministers had approved the proposal by economic development minister Basil Rajapaksa to create such an agency.
The new authority will unify the current Sri Lanka Tourism Development Authority, Sri Lanka Tourist Promotion Bureau and the Sri Lanka Convention Bureau.
The top body will be made up of ministers from three key secretaries, and representatives from Tourist Hotels Association of Sri Lanka, Sri Lanka Association of Inbound Tour Operators and Travel Agents Association of Sri Lanka.