Signing agreement for the establishment of BIMSTEC Technology Transfer Facility in Sri Lanka
It has been decided to establish a BIMSTEC technology transfer facility in Sri Lanka by entering into a Host Country Agreement at the second leaders’ summit of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) held in New Delhi, India, in 2008, with the objective of enhancing regional cooperation. The relevant cooperation […]
The BIMSTEC Technology Transfer Facility will be established in Sri Lanka, following the signing of a Host Country Agreement at the 5th BIMSTEC summit held in Colombo on March 30, 2022. The agreement aims to enhance regional cooperation and provide technology, capacity building, and management of intellectual property for micro, small, and medium-scale enterprises in BIMSTEC member countries.
The agreement requires formalization of the technology transfer facility's legal status, privileges, and immunities between Sri Lanka, the host country, and the BIMSTEC Secretariat. The drafted agreement has received the necessary institutional approval and legal clearance, and the Cabinet of Ministers has approved the resolution to sign the proposed agreement.
Written by urgent.news from The Island Sri Lanka's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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