BIMSTEC Technology Transfer Facility (TTF)

BIMSTEC Technology Transfer Facility (TTF)- Relevance for UPSC Exam

BIMSTEC Technology Transfer Facility (TTF): BIMSTEC is an important regional grouping which have India as a member. BIMSTEC Agreement and various related activities will come under International Relations of UPSC Mains GS Paper 2.

BIMSTEC Technology Transfer Facility (TTF) in news

• Recently, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved a Memorandum of Association (MoA) by India for establishment of BIMSTEC Technology Transfer Facility (TTF).

BIMSTEC Technology Transfer Facility (TTF)

• About: BIMSTEC TFF was signed by the BIMSTEC member countries at the 5th BIMSTEC Summit held at Colombo, Sri Lanka on 30th March, 2022.
• Key Objective: The main objective of BIMSTEC TTF is 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.
• Key Role: BIMSTEC Technology Transfer Facility (TTF) will facilitate transfer of technologies among the BIMSTEC Member States, amongst other things, in the following priority areas-
  • Biotechnology,
  • Nanotechnology,
  • 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.
• Governance Structure: The BIMSTEC TTF shall have a Governing Board and the overall control of activities of the TTF shall be vested in the Governing Board.
  • The BIMSTEC TFF Governing Board shall consist of one nominee from each Member State.
• Expected Outcomes of the BIMSTEC TTF: It is expected to result in-
  • Databank of technologies available in BIMSTEC Countries,

• • Repository of information on good practices in the areas of technology transfer management, standards, accreditation, metrology, testing and calibration facilities,
  • Capacity building, sharing of experiences and good practices in development, and
  • Transfer and use of technologies among BIMSTEC countries.

BIMSTEC Agriculture Meet

Key Points about BIMSTEC Countries

• About: The BIMSTEC was founded in 1997 to provide a unique link between South and South-East Asia with-
  • Five countries – Bangladesh, Bhutan, India, Nepal and Sri Lanka from South Asia and
  • Two countries – Myanmar and Thailand from South-East Asia.
• Cooperative areas: The countries came together as one platform for cooperation in 14 key economic and social sectors of the economy.
  • Initially, six sectors- trade, technology, energy, transport, tourism and fisheries were included for sectoral cooperation which was later expanded to 14 areas of cooperation.
• BIMSTEC Headquarter: BIMSTEC headquarters at Kathmandu, Nepal.
• BIMSTEC New Secretary General: Tenzin Lekphell.
• Objective: To pursue mutual trade, connectivity, and cultural, technical, and economic development in the region.
• Last BIMSTEC Summit: The 5th BIMSTEC Summit was hosted in virtual mode by Sri Lanka, in March 2022.
  • The current chair of BIMSTEC is Sri Lanka.

5th BIMSTEC Summit

5th BIMSTEC Summit

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