Getting approval for visitor passes and immigration clearance may become a hassle due to its extensive process. Even though it is tedious, visa application is really important to make sure that that safe passage is warranted as proper procedure has been complied with. Even though some probably don’t realize, this time-consuming procedure may have some a negative impact on business interaction. With that concern in view, the APEC Business Travel Card was created to ease off the problem.
The APEC Business Travel Card is afforded to company owners providing them the flexibility to travel freely. This is accomplished in a concerted effort by nations to encourage free trade and open investment potentials to participating nations. The APEC Business Travel Card allows travellers pre-cleared short-term entry into countries to do business, avoiding impractical paperwork for business-related purposes.
The process of application for visas together with entry permits under personal travel can certainly be skipped by individuals, and card holders can utilize this multi-entry passes to take the designated APEC lanes upon arrival at the listed nations.
Datuk R Ramanan Ramakrishnan had fully endorsed the initiative and praised the Malaysia Immigration Department with regards to efficiency and willingness to embrace a really effective solution that promotes an accelerated growth and expansion of the national economy.
Datuk R Ramanan encouragement was expressed by his remark that APEC business travel card has established new gateways for businesses in Malaysia to venture into foreign economies effortlessly. Local companies could now make full use of the privilege resulting from the outstanding effort made by related officers who fostered ties with other nations and this has a positive influence on the local economy.
Malaysia, Brunei, Singapore, Thailand, Indonesia, China, South Korea, Philippines, Japan, Hong Kong, Vietnam, Taiwan, New Zealand, Russia, Australia, Peru, Papua New Guinea, Mexico, and Chile are currently amongst the participating nations of the APEC scheme. At the same time, USA and Canada have joined the pact as transitional members.
This initiative has a massive impact on Malaysian businesses, since dealing with some countries used to involve bureaucratic administration. Republic of china, among other countries, makes it essential for social pass or business-related re-entries application to be made beforehand.
Being a strong advocate for Indian business people in Malaysia, Datuk R Ramanan stresses out on the necessity for them to seize the opportunity to bring economic success and growth to the nation. Stimulation from the Indian community locally can also help to stimulate the full endorsement of APEC Business Travel Card to bolster, nurture and encourage the rapidly expanding businesses.
A research done by the APEC Policy Support Unit recently reveals that the APEC Business Travel Card scheme has resulted to a noticeable transaction cost reduction, that is up to 38% which previously had to be borne by the card holders. This explains that the initiative did not only help to minimize waiting time, but actual cost related to travel. In estimation, between the period of March 2010 until July 2011, as many as 62,413 hours was saved by the pass owners, which equals to USD 1.9 million in estimated value.