The proposal envisages simplifying visas for five-year validity with multiple entries to all Brics countries with an eye on increasing trade volume and investments among the member states.
Who will be Affected?
Nationals of Brazil, Russia, India, China and South Africa seeking to travel within the five-member block.
How Does it Work?
Leaders of the BRICS countries met this week in Ufa, Russia for their 7th annual summit. One of the proposals under consideration is a BRICS travel card for business travelers from member countries to more easily move within the region. Modeled after the APEC business card for the Asia Pacific region, a BRICS business travel card would be valid for five years and allow nationals of the five BRICS countries to travel within the BRICS region without a visa. Last year, South Africa eased visas for BRICS peers by offering 10-year multiple-entry visas.
Other proposals included reducing customs barriers and establishing a BRICS bank headquartered in Shanghai for funding joint development projects in member countries.