Foreign Policy Watch: The BCIM Corridor

Foreign Policy Watch: The BCIM Corridor

[pib] BIMSTEC Technology Transfer Facility (TTF)


From UPSC perspective, the following things are important :

Prelims level : BIMSTEC TTF

Mains level : BIMSTEC

The Union Cabinet chaired by the PM has approved a Memorandum of Association (MoA) by India for the establishment of the BIMSTEC Technology Transfer Facility (TTF).

What is BIMSTEC?

  • The BIMSTEC formed in 1997 is an international organisation of seven South Asian and Southeast Asian nations, housing 1.73 billion people and having a combined gross domestic product of $3.8 trillion (2021).
  • The BIMSTEC member states – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand – are among the countries dependent on the Bay of Bengal.
  • Leadership is rotated in alphabetical order of country names. The permanent secretariat is in Dhaka, Bangladesh.
  • A BIMSTEC free trade agreement is under negotiation (c. 2018), also referred to as the mini SAARC.


  • The agreement was signed by the BIMSTEC member countries at the 5th BIMSTEC Summit held at Colombo, Sri Lanka on 30th March, 2022.
  • The main objectives of the BIMSTEC TTF are to coordinate, facilitate and strengthen cooperation in technology transfer among the BIMSTEC Member States.
  • It aims to promote the transfer of technologies, sharing of experiences and capacity building.
  • The TTF shall have a Governing Board and the overall control of activities of the TTF shall be vested in the Governing Board.
  • The Governing Board shall consist of one nominee from each Member State.

Expected outcomes

The expected outcomes of the BIMSTEC TTF are:

  • 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.


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