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| Sunday, 3 November 2002 |
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Lanka held back due to low investment on R&D The financial allocation for research and development is very low in Sri Lanka and this has affected the development of the country, Minister of Commerce and Consumer Affairs Ravi Karunanayake told the BIMST-EC Expert Group Meeting on Technology Cooperation recently. The meeting was organised by the National Science and Technology Commission (NASTEC) in collaboration with the National Chamber of Commerce of Sri Lanka (NCCSL) and Ceylon Chamber of Commerce. He said the Government, realising the need for technological development, has taken several steps to improve the technological capabilities of Sri Lankans such as establishing a Rs 30 million fund to facilitate new talent. This will help bring new talent to be used for commercial purposes. The fund hopes to support at least 20 young people during an year, the minister said. Chairman NASTEC Dr R.O.B. Wijesekera hoped the meeting would broaden the dimension of market possibilities for the products of the BIMST-EC region through the exchange of technology as well as joint development of technology, product areas, training and enhancement of individual capabilities. Chairman NCCSL Chandra Embuldeniya said: "By cooperating with our experts and invariably among our countries, we can develop technology to speed up development. By exchanging ideas, views and projects on food which is our basic need, we can work together to add value to our economies". the Bangladesh, India, Myanmar, Sri Lanka, Thailand-Economic Cooperation (BIMST-EC) was established in 1997. The objectives of the group are to achieve trade and technical collaboration within the region based on each member's economic strengths and capabilities. |
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