PH STANDS TO GAIN IN RCEP

While one country is ambivalent in joining the world’s biggest trade pact, 15 countries resolved to seize opportunities that the free trade region will create.

During the 3rd Regional Comprehensive Economic Partnership (RCEP) Leaders’ Summit on 4 November, Indian Prime Minister Narendra Modi stated that it is not possible for India to join RCEP noting its unresolved issues and concerns. The 15 other country leaders, however, expressed optimism that a free trade region will not only enhance economic integration but will create more opportunities for businesses and investors.

New Visa Rule for Major Investors

Companies with major investments in Australia can quickly bring skilled employers into Australia to fill temporary shortages, after implementation of a change to the Accredited Sponsor Scheme for the Temporary Skill Shortage visa.

Announced last March, the scheme is accessible to companies that have invested over A$50 million in Australia. Investors must also have a track record of creating local employment and successfully sponsoring other skilled migrants. Approved companies can expect a visa turnaround time of five days.

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