As per a report in The Economic Times, Indian government aims to propose a system allowing a visa-free, short business trips to 15 countries covered under the Regional Comprehensive Economic Partnership (RCEP) free-trade agreement (FTA).
RCEP is a 16- member grouping comprising of countries such as India, South Korea, Japan, China, Australia, New Zealand along with the 10 members of ASEAN (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam), formed to boost the regional commercial ties among the member nations.
The arrangement will provide assistance to the member nations business travelers vetted by established trade organizations and other industry chambers to avoid visa documentation, passport issues and the associated hassles causing inconvenience to frequent business travelers .
As per the RCEP official, "We plan to get business travellers vetted by established trade organisations like the Federation of Indian Exports Organizations and industry chambers like FICCI (Federation of Indian Chambers of Commerce and Industry) and CII (Confederation of Indian Industry)."
The RCEP is presently working on the initial proposals to be made public at its next meeting to be held from October 12-16 in Busan, South Korea.
The RCEP is vital for India, as this regional trade arrangement is vital to boost India’s strategic and economic status in the Asia-Pacific region.