Technology is one of the 14 sectors of cooperation identified since the inception of BIMSTEC in 1997. This Sector is led by Sri-Lanka.
Technology Exchange and project cooperation in agro-based technologies, food processing, herbal products, biotechnology, ICT sector have been identified by the Member States as the few key areas of cooperation.
During the 11th Senior Officials Meeting in 2006, Sri Lanka, the Lead country proposed to establish a BIMSTEC Technology Transfer Exchange. While endorsing Sri Lanka’s proposal the Ninth Ministerial Meeting in 2006 underlined the need to enhance cooperation in advanced areas of fundamental scientific research and exchange of expertise in software and hardware development, as well as joint R&D in this field. The Meeting also encouraged technology transfer and exchange of experience and data on Geographical Information System (GIS).
During the Second BIMSTEC Summit, which was held in New Delhi, India in November 2008, the Leaders decided to establish a BIMSTEC Technology Transfer Facility in Sri Lanka.
The Leaders during the Third BIMSTEC Summit in March 2014 agreed to enhance cooperation in expanding skill and technology base of Member States through collaborations and partnerships targeted towards micro, small and medium-sized enterprises and decided to accelerate efforts for the early finalization of Memorandum of Association on the Establishment of BIMSTEC Technology Transfer Facility. This aspect was further emphasized by the Leaders during the Retreat held at Goa in October 2016.
Member States considered it necessary to have a legal framework to govern the BIMSTEC Technology Transfer Facility. An Expert Group constituted on the Establishment of the BIMSTEC Technology Transfer Facility is accordingly considering a Memorandum of Association (MoA) drafted by Sri Lanka in this regard.
– Fourth Meeting of the Expert Group on the Establishment of the BIMSTEC Technology Transfer Facility is scheduled to be held in Colombo, Sri Lanka on 21-22 November 2017.