Need faster visa issue process with Latin American nations: Salman Khurshid

NEW DELHI: India today said there is a need to improve consular services and faster issuance of visas with Latin American countries to boost economic engagement between the regions.

External Affairs Minister Salman Khurshid said that the Latin American countries (LAC) are important investment destinations for the Indian business community.

"We need, and I take note of this, to improve on our consular services and faster issuance of visas and I think that remains the pre-requisite that we must address," External Affairs Minister Salman Khurshid said here at a CII conclave on India-LAC and Caribbean Conclave.

He said that the LAC region accounts for a combined GDP of $ 6.9 trillion, a trade turnover of $ 2.1 trillion and a population of 600 million people.

Khurshid said that the region is endowed with natural resources such as fresh water, minerals and hydrocarbons.

"This region includes five of the world's most bio-diverse countries - Brazil, Colombia, Ecuador, Mexico and Peru. India wishes to build a long lasting, enduring relationship with LAC," he added.

He said that although the two way trade between India and LAC has increased to $ 46 billion in 2012 from $ 2 billion in 2000, "the figure is not reflective of the true potential of our economic engagement".

The Minister said that Indians can share technology in e-governance, tele-education and tele-medicine and can also offer weather forecasting and mapping of mineral resources in the LAC region.

Further, he added that there is a need to increase cooperation in the SME ( Small and Medium Enterprises) sector.

Vice President of Ecuador Jorge Glas Espinel is leading a 250-member business delegation from LAC here. The delegation would also visit Mumbai.