The Regional Centre for Science and Transfer of Technology (RCSTT) was established in 2008 in Tehran, pursuant to the recommendation of the Academic Group of the Indian Ocean Rim Association, and approved in the 7th meeting of the IOR Council of Ministers, held on 7-8 March, 2007 in Tehran, Islamic Republic of Iran. Its objective is to promote regional integration and co-operation among the IORA Member States by supporting applied research, networking, technology transfer and commercialization.
The Fisheries Support Unit (FSU) was established in the Sultanate of Oman pursuant to the decision of the 4th meeting of the Council of Ministers' meeting in Sri Lanka on 9 October 2003. Its objectives are, to enhance cooperation within the fisheries sector of IORA, better utilization of fisheries resources, expertise exchange and conducting joint research activities.
The proposed Maritime Transport Council (MTC) for the Indian Ocean Rim Association could become the third specialized agency when it becomes operational. The objectives of the MTC would be to promote and defend the interests of Member States in Maritime Transport, by striving towards the strengthening of Maritime Transport Cooperation in the IORA region.
The two specialized agencies are affiliated to the IORA through Memorandum of Understanding a special agreement that has been concluded between the IORA Secretariat and the Governments of the Islamic Republic of Iran (for the RCSTT) and the Sultanate of Oman (for the FSU).
The Government of Islamic Republic of Iran contributed the seed money to the amount of US$ 200,000 for initiation of the Centre, as well as for voluntary annual special grants to the Centre.
Other sources of funding could come from voluntary contributions made by Member States as mentioned in the RCSTT Statute.
The Government of the Sultanate of Oman contributes fully towards the operational budget of the Fisheries Support Unit. Other sources of funding include the IORA Special Fund, voluntary contributions from Member States and Donors, as well as sponsors as mentioned in FSU MOU.
Since there is a large interest from Member States to establish Specialised Agencies in the Association, a paper is being prepared in order to have a clear idea on their role and participation of IORA Specialised Agencies.