Centre approves MoA by India for establishment of BIMSTEC Technology Transfer Centre in Colombo

The main objectives of the BIMSTEC TTF are to coordinate, facilitate and strengthen cooperation in technology transfer among the BIMSTEC member states by promoting the transfer of technologies, sharing of experiences and capacity building

FP Staff|Jun 14, 2022, 17:28:28 IST

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Memorandum of Association by India for establishment of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Technology Transfer Facility which was signed by the BIMSTEC member countries at the 5th BIMSTEC Summit held at Colombo, Sri Lanka on 30 March.The main objectives of the BIMSTEC TTF are to coordinate, facilitate and strengthen cooperation in technology transfer among the BIMSTEC Member States by promoting the transfer of technologies, sharing of experiences and capacity building, read a statement.The TTF shall facilitate transfer of technologies among the BIMSTEC member states, amongst other things, in areas including biotechnology, nanotechnology, information and communication technology, space technology applications, agricultural technology, food processing technology, pharmaceutical technology automation, new and renewable energy technology automation, new and renewable energy technology, oceanography, nuclear technology applications, E-waste and solid waste management technology, health technologies, technologies pertinent to disaster risk reduction and climate change adaptation.The TTF shall have a governing board and the overall control of activities of the TTF shall be vested in the governing board. It shall consist of one nominee from each member state, the statement added.The expected outcomes of the BIMSTEC TTF are - Databank of technologies available in BIMSTEC Countries; Repository of information on good practices in the areas of technology transfer management, standards, accreditation, metrology, testing and calibration facilities; Capacity building, sharing of experiences and good practices in development; and Transfer and use of technologies among BIMSTEC countries.Read all the Latest News, Trending News, Cricket News, Bollywood News,India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

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