Asia Pacific to remain world’s fastest growing air market, says ICAO

Seoul, May 9 (GCBusiness) The Asia Pacific will remain the world’s fastest growing air transport market in terms of passenger and freight traffic for the foreseeable future, the International Civil Aviation Organisation (ICAO) has said.

ICAO governing council president Olumuyiwa Benard Aliu said aviation today has become ‘an essential component of global society,” and “the vast majority of countries which have embraced liberalisation have enjoyed rapid traffic growth and its accompanying, and significant, socio-economic benefits.’

He was speaking at the combined fourth ICAO Air Transport Symposium and sixth conference on International Air Transport Cooperation here.

‘However a truly multilateral approach to international air transport liberalization, especially regarding the exchange of traffic rights on a multilateral basis, remains an outstanding ambition in the world today,’ he emphasised.

Dr Aliu noted that ICAO’s goal is to understand and reconcile the political positions of each State as much as possible on matters concerning the liberalisation of market access, air carrier ownership and control, and air cargo services, and that in line with the ICAO Long-Term Vision for International Air Transport Liberalisation, the UN agency is also assisting States with the modernisation and harmonisation of their regulatory regimes on a multilateral level.

The Council President also drew his audience’s attention to ICAO’s high-level core principles on consumer protection, designed to help globally align government and industry policies and approaches in this area, noting that this is imperative as the sector increases its competitiveness.

Via UNI-India

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