Colombo: An agreement between the government of Sri Lanka and the BIMSTEC Secretariat was signed in Colombo recently to establish the 'BIMSTEC Technology Transfer Facility' in Sri Lanka. This marks a significant milestone in advancing regional cooperation in science, technology, and innovation.
According to United News of Bangladesh, the agreement was signed by ML Gammampila, acting secretary of the Ministry of Science and Technology, Sri Lanka, and Indra Mani Pandey, BIMSTEC secretary general. The signing of the host country agreement reflects the shared commitment of the BIMSTEC states to strengthen cooperation in science, technology, and innovation, including creating mechanisms to support technology transfer for the benefit of member states.
The signing of the agreement marks the final step toward operationalising the BIMSTEC Technology Transfer Facility, realising a long-standing commitment to establishing a functioning regional mechanism for facilitating technology transfer. A Governing Board has been constituted for the facility, and it convened its first virtual meeting on August 3 in Colombo.
Sri Lanka, as the lead country for science, technology, and innovation, will coordinate with member states through the BIMSTEC Secretariat to develop a common Intellectual Property Framework. This framework aims to facilitate technology transfer among BIMSTEC member states and will be further discussed at the subsequent Governing Board meeting. Sri Lanka will also announce the appointment of the Executive Director of the facility at that meeting.
As the host country, Sri Lanka will play an anchor role in the operationalisation of the facility, working closely with the BIMSTEC Secretariat and member states. BIMSTEC comprises seven countries of the Bay of Bengal region: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand.