In a major boost to regional innovation and cooperation, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) and the Government of Sri Lanka have signed a milestone agreement to operationalize the long-awaited BIMSTEC Technology Transfer Facility (TTF) in Colombo.
Key Highlights
- Official deal signed to operationalize the BIMSTEC Technology Transfer Facility (TTF) based in Colombo, Sri Lanka.
- Aims to facilitate knowledge sharing, joint research, and technology transfer among Bay of Bengal nations.
- Focuses on critical sectors including renewable energy, agriculture, healthcare, and digital innovation.
The newly operationalized facility serves as a key institutional mechanism designed to enhance technological capabilities across member states. By streamlining the exchange of technologies and fostering collaborative research and development, the TTF aims to accelerate economic growth and sustainable development across the region.
BIMSTEC brings together seven member countries—Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand. The launch of the TTF marks a practical step forward in turning regional cooperation policy into actionable, high-impact technological solutions for shared challenges.