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BIMSTEC TECHNOLOGY TRANSFER CENTRE (TTF)

June 15, 2022

The Union Cabinet has approved a Memorandum of Association (MoA) by India for establishment of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Technology Transfer Facility (TTF) for establishment of BIMSTEC Technology Transfer Centre at Colombo, Sri Lanka.

About:

  • This MoA was signed by the BIMSTEC member countries at the 5th BIMSTEC Summit held at Colombo, Sri Lanka on 30th March, 2022.
  • The TTF shall have a Governing Board and the overall control of activities of the TTF shall be vested in the Governing Board. The Governing Board shall consist of one nominee from each Member State.

The expected outcomes of the BIMSTEC TTF are:

  • Databank of technologies available in BIMSTEC Countries,
  • Transfer and use of technologies among BIMSTEC countries. 
Source : PIB

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