Narendra Rajapaksa, the fisheries ministry spokesman, said the committee was appointed as a result of the talks between Sri Lankan fishing minister Rajitha Senarane and his Indian counterpart Sharad Pawar early this year.
"This committee would look to bring permanent solutions all burning issues and to promote goodwill between the two fishing communities," Rajapaksa said.
His statement came on the eve of the next round of talks between the representatives of the respective fishing communities.
The talks which were to take place in mid-March did not take place as the Tamil Nadu government protested the detention of Indian fishermen by Sri Lanka.
The Tamil Nadu government had demanded the release of all Indian fishermen before the talks could resume.
Sri Lanka had seized over 160 fishermen despite the agreements reached at talks held in Chennai in January.