SAATM to reduce intra-African trade deficit by 51%, says Keyamo 

As the Single African Air Transport Market (SAATM) continues to gain momentum with a view to reshaping the future of African aviation, Nigeria’s Minister for Aviation and Aerospace Development is optimistic about the transformative impact it will have on the continent’s economic landscape.

Speaking at the ongoing 24th Anniversary of the Yamoussoukro Decision (YD) in Abuja, Keyamo said SAATM is not just a catalyst towards continental integration, but it will unlock intra-African trade and tourism if properly implemented.

According to him, SAATM will reduce intra-African trade deficit by 51 per cent and significantly increase the continent’s global passenger market share, which currently stands low at 2.1 per cent.

“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%,” said Keyamo.

He, however, stressed that the need to speed up the implementation of SAATM is crucial, but this can only be achieved with collaborative efforts at regional and continental levels.

Keyamo noted that out of the 54 African countries, only 37 member-states to the African Union (AU) have subscribed to the implementation of SAATM unconditionally.

“Statistics from the Africa Civil Aviation Commission (AFCAC) shows that 37 member States have so far subscribed to unconditionally implement the YD and SAATM, with 23 States signing the Memorandum of Implementation (MoI) for its operationalization. 

“The records also show that these 37 States account for more than 88% of intra-African traffic and more than 800 million people in Africa. Ladies and gentlemen, it is common knowledge that the success of the SAATM initiative depends on not just the commitment of individual countries, but also on collaborative efforts at the regional and continental levels,” Keyamo said.

He reassured Nigeria’s commitment to full implementation of SAATM as the country is set to review all Bilateral Air Service Agreements with other African countries to reflect the provisions of SAATM.

“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. 

“Furthermore, 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,” he said.