NEW DELHI: India and the Association of Southeast Asian Nations (ASEAN) have agreed to create a joint fund for development of science and technology in the region.

The agreement was reached at a two-day India-ASEAN technology summit, which concluded here on Tuesday. The meet was organised by the Ministry of Science and Technology and the Confederation of Indian Industry (CII).

Announcing the agreement, Union Minister for Science and Technology Kapil Sibal and Malaysian Minister for Science, Technology and Innovation and leader of the ASEAN delegation Jamaluddin Mohammed Jarjis, said the details of the fund would be worked out soon.

The fund would be used for undertaking collaborative R&D and technology development in areas of common interest, including biotechnology and pharmaceuticals, agriculture for food security and advanced materials.

The summit also decided to design a regulatory framework by harmonising the standards for biotechnology products and the agricultural processing industry, and to establish an India-ASEAN Institute for Intellectual Property to help build human resource capacities and training.

Huge costs

Mr. Sibal and Mr. Jarjis said the regulatory framework had been thought of to cut down the huge costs involved in getting approvals for biotechnology products, and to ensure that the value additions that would accrue would benefit the people of the region. They stressed that while trying to cut costs, there would be no compromise on standards.

Mr. Jarjis said ASEAN, which was hitherto looking to the western world for scientific developments, now felt that India could offer the same potential at a much lower cost. The grouping was particularly interested in the rapid strides made by India in information and communications.

Knowledge grid

The summit also decided to create a knowledge grid, covering India and the ASEAN countries to encourage linkages among academic institutions, research laboratories, professional bodies and industry.

In a joint declaration, India and ASEAN also agreed to foster mobility of members of the scientific community; create mechanisms to popularise science through interaction of youth and to hold technology summits regularly to promote competitiveness among the various stakeholders.

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