Ghana and Turkey to boost cosmetics trade
Trade between Ghana and Turkey would soon receive another boost as the Turkish cosmetic sector is working to increase its trade investment inflow in Ghana from the current US$3 million to US$50 million within the next few years.
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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 day’s Business-to-Business (B2B)meeting with cosmetic importers, distributors, wholesalers and retailers in Ghana.
The B2B meeting was to exhibit Turkish cosmetics and some pharmaceutical products to their Ghanaian counterparts, and to establish an effective working relationship between the two countries.
In an interview in Accra, Metin Cobanlioglu, co-ordinator of the meeting at Globrand Strategy Consulting in Turkey, said Ghana was chosen for the exhibition because of the great potential it had as a stable democracy.
Mr Cobanlioglu said 11 of their cosmetic 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 delegation met over 50 Ghanaian cosmetic companies to find opportunities to convey their products to the purchasers and distributors, adding tha the Turkish cosmetics sector was in high demand not only domestically but also internationally.
Mr Cobanlioglu said both production and consumption of the cosmetic and personal care products were increasing rapidly, adding that the hair care products held the greatest share in the product range, and shampoos accounted for approximately 59 per cent of hair care products.
He said the Turkish cosmetic sector would in 2014, invite Ghanaian cosmetic companies to Istanbul to tour some of its cosmetics companies as well as deepen the mutual relationship between the two countries.
Mr Cobanlioglu said the cosmetic industry had the capacity and technical skills required for production in global standards in terms of quality with competitive prices.
He also added that “in the long-term, members of the ICCPEA were planning to establish plants in the country to produce cosmetic products locally” which would boost the Ghanaian economy and create employment for the citizens.