Trade from Turkey to receive major boost

Trade between Ghana and Turkey will soon receive another boost, as the Turkish Cosmetic Sector is working to increase its trade investment inflow in Ghana from the current US$3million to US$50million within the next few years.

This was affirmed after a business delegation representing about 40 companies from the Istanbul Chemicals and Chemicals Product Exporters Association (ICCPEA), with support from the Turkish Ministry of Economy, visited Ghana for a one-day Business-to-Business meeting with cosmetic importers, distributors, wholesalers and retailers in Ghana.

The B2B meeting was to exhibit Turkey’s cosmetic and some pharmaceutical products to Ghanaian counterparts and establish an effective working relationship between the two countries.

Speaking in interview in Accra, Metin Cobanlioglu, Coordinator of the meeting at Globrand Strategy Consulting in Turkey, said Ghana was chosen for the exhibition because of the great potential in Ghana and its stable democracy.

Mr. Cobanlioglu said 11 of their cosmetics companies showcased a wide range of cosmetics including body and hair care products such as shaving products, depilatories, bath and shower products, soaps, lip and eye make-up materials, deodorants and perfumes.

He said the exhibition met over 50 Ghanaian cosmetic companies to find opportunities to convey their products to the purchasers and distributors, adding that the Turkish Cosmetics sector is in high demand not only domestically but also internationally.

The Project Coordinator said both production and consumption of the cosmetic and personal care products are increasing rapidly, adding that the hair care products hold the greatest share in the sector product range, and shampoos account for approximately 59% of hair care products.

He said the Turkish cosmetic sector will in 2014 invite Ghanaian cosmetic companies to Istanbul to tour some of its cosmetics companies in Turkey as well as deepen the mutual relationship between the two countries.

Mr. Cobanlioglu said the cosmetic industry has the capacity and technical skills required for production at global standards in terms of quality with competitive price.

He also added that “in the long-term, members of the ICCPEA are planning to establish plants in the country to produce cosmetic products locally”, which would boost the economy and create employment for the citizens.