The establishment of a Single African Air Transport Market, according to Minister of Aviation and Aero Development, Festus Keyamo, would result in a 51% reduction in the intra-African trade deficit.
According to The Punch, he made this revelation on Tuesday in Abuja during a workshop on African Aviation Market Integration, Single African Air Transport Market, and Regulatory Framework, which was sponsored by the African Civil Aviation Commission and had as its topic “Africa Wants to Fly.”
He added that the Foreign Affairs Ministry’s engagement is essential to the goal of increasing aviation connectivity amongst African nations.
He added that the Foreign Affairs Ministry’s engagement is essential to the goal of increasing aviation connectivity amongst African countries.
“Currently, just 14.4% of all African exports come from intra-African commerce. Even while passenger traffic on African airlines increased by 34.7% in the last year, the continent’s share of the global passenger market is still relatively small at 2.1%.
“Therefore, it makes perfect sense to establish the Single African Air Transport Market as it would not only boost intra-African trade and tourism but also cut the continent’s trade deficit by fifty-one percent,” he said.
He went on to say that the Yamoussoukro Decision regarding the liberalization of Access to Air Transport Markets in Africa would be fully implemented more quickly if the foreign affairs ministries of all African nations worked together.
Keyamo claimed that the minister of foreign affairs sets the agenda and chairs these kinds of meetings.
“Therefore, include the foreign affairs ministers in the action plan if you want it to be the top priority for the AU.”
Earlier in his speech, Captain Director-General of the Nigeria Civil Aviation Authority, stated that the African Continental Free Trade Area would be a mirage without a single air market.