By Chris Agabi
Nigeria’s Minister of Aviation and Aerospace Development Barr Festus Keyamo, SAN, has reiterated Nigeria’s commitment’ to the Single African Air Transport Market (SAATM) because of the immense economic benefits SAATM is capable of unlocking for the African continent.
He specifically said SAATM when implemented would also reduce the continent’s trade deficit by 51 percent.
In 2011, EU imports from Africa were smaller than exports to Africa, resulting in a trade deficit of €9 billion
The U.S. goods trade deficit with SubSaharan Africa was $11.7 billion in 2021.
The statistics of trade imbalances across the African countries against countries on the other continents is huge and experts have agreed that only improved trade and travel among African countries can mitigate these trade imbalances.
The minister also decried the poor travel profile among African countries.
“Presently, intra Africa trade stands low at just 14.4% of total African exports. Though African airlines have recorded a 34.7% surge in passenger traffic over the past year, the continent global passenger market share remains modest at 2.1%. Therefore, the Single African Air Transport Market (SAATM) is a no-brainer in giving impetus to not just intra Africa trade, tourism, but SAATM would also reduce the continent’s trade deficit by 51%* Barr. Keyamo noted.
He spoke in Abuja on Tuesday at the 24th Yamoussoukro Decision (YD) Day Anniversary as part of the Yamoussoukro Week holding in Abuja, Nigeria from November 13 to 16, 2023 under the theme, “Africa Wants to Fly”.
He said “Africa Wants to Fly” is not just a theme, but a reflection of a profound desire deeply rooted in the hearts of countless Africans.
According to him, the need to speed up full implementation of the Yamoussoukro Decision (YD) with regard to the Liberalization of Access to Air Transport Markets in Africa, cannot be over emphasized as it is crucial to the achievement of the long-term vision of the African Union.
Nigeria he said has made a commitment to the full implementation of SAATM through her commitment to SAATM-Project Implementation Pilot (SAATM-PIP).
“I have also directed that our Bilateral Air Services Agreement (BASA) with African Countries that are signatory to SAATM be reviewed in line with the provisions of Yamoussoukro Decision and the principles of reciprocity. Hence, this YD Anniversary Week celebration will enhance the discussion on the progress made on the SAATM-PIP roadshows, its implementation and monitoring” he stated.
The Minister said Nigeria has made a commitment to the full implementation of SAATM through our commitment to SAATM-Project Implementation Pilot (SAATM-PIP).
“I have also directed that our Bilateral Air Services Agreement (BASA) with African Countries that are signatory to SAATM be reviewed in line with the provisions of Yamoussoukro Decision and the principles of reciprocity” h indicated.
He said the Anniversary Week celebration will enhance the discussion on the progress made on the SAATM-PIP roadshows, its implementation and monitoring.
Furthermore, he said it is hoped that the YD Anniversary Week celebration would inspire countries signatory to SAATM (and who have not done so) to further remove restrictions on air services while those who have not signed the commitment to SAATM be encouraged to voluntarily join and commit to the principles of the open skies policy.
