Nigeria-Israel Chamber Of Commerce Lauds FG On BASA Agreement

Mr Ike Willie-Nwobu, the Executive Director, Nigeria-Israel Chamber of Commerce (NICC), yesterday commended the Federal Government’s decision to sign Bilateral Air Service Agreement (BASA) with Israel.
Willie-Nwobu, who spoke with newsmen in Lagos, said that BASA would remove the trade barriers between the two countries.
He said that Nigerian entrepreneurs had not fully utilised the ample investment opportunities in Israel because of the rigours of travelling through connect flights.
“There is currently no direct flight from Israel to Nigeria and vice versa.
“Anyone travelling to Israel from Nigeria will have a compulsory stopover in countries like Turkey, France, Germany and Ethiopia before proceeding on the journey.
“This has been a major turn-off for entrepreneurs seeking business ties with their Israeli counterparts,” Willie-Nwobu said.
He also said that the agreement, when signed, would open new frontiers for investment opportunities in various sectors of the economy.
“There will be opportunities for airlines that are interested in flying through major air routes in Nigeria and Israel.
“It will also create a crash in the cost of flight tickets which are currently between N400,000 and N450,000.
“It will shorten business transactions and reduce restriction on the export of goods,” he said.
Mr Jude Arinze, the NICC Executive Secretary, told our correspondent that the value of Nigeria’s exports to Israel had increased from N2.7 billion in 2012 to N4.5 billion in 2013.
He said that Israel’s import to Nigeria, however, declined from N14.6 billion in 2012 to N9.3 billion in 2013.
Arinze said that the current trade deficit between the two countries was N12.5 billion.
Special Assistant on Media to the Aviation Minister, Mr Joe Obi, had said that the BASA bilateral agreement was expected to be signed this week during President Goodluck Jonathan’s Pilgrimage to Israel.