Datuk R Ramanan Talks about the APEC Business Travel Card
Datuk Ramanan applauds APEC Business Travel card endeavours in Malaysia
Going through a lengthy immigration clearance procedure just for visitor passes approval could very well be inconvenient. While it is unquestionable that such procedure is daunting, the visa application process is critical to ensure everybody’s safe passage. Nonetheless, it is not uncommon for similar procedures to affect business relations. Fortunately, a highly effective solution, the Asia Pacific Economic Corporation (APEC) Business Travel Card was introduced to smoothen the process.
The APEC Business Travel Card is established for business owners to provide them a certain degree of convenience while travelling. Participating countries have worked closer together in order to make this initiative possible with the mutual target to develop a network for investment opportunities and stimulate free trade among its participating nations. The APEC Business Travel Card enables entrepreneurs to get their short-term entry cleared in advance once they visit participating nations. Accordingly, excessive regulations that slows down the process could very well be avoided.
Individuals skip the whole process of having to apply for visas and entry permits under personal travel permits and will be able to make use of this multi entry passes to enter participating nations on arrival through exclusive APEC lanes.
Datuk R Ramanan gave his full support to this very program, and even applauded the Immigration Department of Malaysia for the proactive method to stimulate the development and expansion of the economy at the national level with such a practical solution.
Datuk R Ramanan Ramakrishan showed his support on the initiate indicating that the APEC Business Travel Card has increased the business opportunities for Malaysian entrepreneurs to venture into foreign economies in the region. Organizations can now use this privilege on account of the extraordinary effort made by authorities to visit foreign governments and foster strong connection that benefits the entire nation.
Current participating nations in the APEC scheme are Chile, Mexico, Papua New Guinea, Peru, Russia, New Zealand, Australia, Taiwan, Japan, Hong Kong, China,South Korea, Brunei, Singapore, Thailand, Philippines, Indonesia, Vietnam, and Malaysia. America and Canada, on the other hand, have also took part as transition members.
The scheme had a big impact for Malaysia, since for some nations, more bureaucratic administration is imposed. China, for example, enforces the condition to apply for a permit to entry upfront regardless of whether it’s a business-related re-entries or just a social pass.
A research conducted the APEC Policy Support Unit recently discovers that the APEC Business Travel Card scheme has resulted to a significant transaction cost reduction, which happens to be up to 38% which previously needed to be borne by the card owners. This clearly shows that the effort don’t only assist to reduce waiting time, but actual cost connected with travel. In approximation, between the period of March 2010 until July 2011, a total of 62,413 hours was saved by the pass owners, which equates to to USD 1.9 million in estimate value.