As a part of Tuesday’s meeting, the Union Cabinet approved a Memorandum of Association that will see an Indian-Sri Lanka Technology Transfer Centre established in the Sri Lankan capital, Colombo
The Union Cabinet chaired by Prime Minister Narendra Modi has approved a MoA by India for establishment of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Technology Transfer Facility (TTF) was signed by the member countries at the 5th BIMSTEC Summit held at Colombo on March 30.
The main goal of the BIMSTEC ATTF 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.
The statement said that centre shall facilitate transfer of technologies among the BIMSTEC Member States, amongst other things, in the following priority areas biotechnology, nano-technology, 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 Governing Board which will consist of one nominee from each Member State and overall control of activities of TFF will be vested in the Governing Board
