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BIMSTEC and Sri Lanka have taken a key step towards launching a regional technology transfer facility aimed at boosting cooperation in science, technology and innovation among the grouping’s seven member states.
The two sides recently signed a host country agreement in Colombo for the establishment and operation of the BIMSTEC Technology Transfer Facility.
The agreement was signed by M L Gammampila, secretary (acting) of Sri Lanka’s Ministry of Science and Technology, and BIMSTEC Secretary General Indra Mani Pandey.
According to a BIMSTEC media release issued Monday, the agreement completes the formal process required to make the facility operational and reflects the member states’ commitment to strengthening regional technology cooperation.
A Governing Board for the facility has already been formed and held its first virtual meeting on August 3 in Colombo.
Sri Lanka, which leads BIMSTEC’s science, technology and innovation sector and hosts the facility, will work with member states through the BIMSTEC Secretariat to develop a common intellectual property framework for technology transfer.
The proposed framework will be considered at upcoming Governing Board meetings. Sri Lanka is also expected to announce the appointment of an executive director for the facility at a subsequent meeting.
As the host country, Sri Lanka will coordinate the facility’s operations in partnership with the BIMSTEC Secretariat and other member states.
BIMSTEC brings together Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.