It is a confederation of trade associations, regional- and sectoral chambers of commerce and industry, business councils and employer organisations in the country.

A meeting was held on February 20, 1839 by a considerable number of the mercantile community favourable to the establishment of a Chamber of Commerce in the island of Ceylon.

It was unanimously resolved as a preliminary measure that five of the gentlemen present should be requested to form a Committee for framing an estimate and drawing up certain rules and regulations, which when submitted and approved might form the ground work of the institution.

The General Meeting of thirteen representatives of the mercantile community was held on 25 March 1839 at the Corner House of Prince Street.

In 1954 Terrence de Soysa was appointed as the first Sri Lankan Chairman.