Turkish Business Delegation Explores Opportunities In Ghana

TURKISK PIXTrade between Ghana and Turkey has received a boost as the latter’s business delegation is in the country to explore investment opportunities in the cosmetics sector.

The delegation representing about forty companies from the Istanbul Chemicals and Chemical Product Exporters’ Association (ICCPEA), said they were poised to increasing the presence of their products in the Ghanaian markert.

Speaking to Times Business in Accra last week, the Co-ordinator of the business delegation, Meltin Cobanlioglu said the market for the Ghanaian cosmetics products was huge and members of ICCPEA were eager to capitalise on it to dominate the Ghanaian market.
Currently, he said, through some of their partners in Ghana, Turkish cosmetics valued at $3 million is exported to Ghana and hopes to increase it to $ 50 million

He explained that the Turkish government had outlined a three-year programme to assist Turkish companies in the cosmetics sector to explore investment opportunities outside the country.

The Turkish Cosmetics Sector Trade Mission to Ghana was organised by ICCPEA and sponsored by the Turkish Ministry of Economy.
ICCPEA is an apex body for chemicals and cosmetics products in Turkey and has approximately 5600 members and exported about $17.6 billion worth of products worldwide in 2012.

Mr. Cobanlioglu said in view of that support, member companies of ICCPEA had expanded to South America and some Asian countries.
He said the focus of ICCPEA currently was to explore for investment opportunities in Africa and particulary Ghana.

Ghana, Mr Cobanlioglu  said, was chosen by the business delegation  because of the country’s  growing economy and stable democracy.
“Ghana by ICCPEA desk research is the fastest growing economy in West Africa and the most developed in the sub-region with flexible business terms,” he stated.

About 50 Ghanaian companies from Accra and Kumasi attended the business session with the Turkish business team.
To strengthen the relationship that had been established with the local cosmetics players, the Coordinator said ten local cosmetic companies would be sponsored to Turkey in April next year to visit the cosmetics companies in Turkey.

“In the long-term, members of the ICCPEA are planning   to establish plants in the country to produce cosmetics products locally,” Mr Cobanlioglu stated.

That, he said, would boost the Ghanaian economy and also create employment for the youth. He said the business delegation met with the Food and Drugs Authority and were briefed on the processes they had to go through to export their products into the country.  By Kingsley Asare

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