İKMİB Organizes Two Separate Trade Delegations to Saudi Arabia

İKMİB organized two separate events in February targeting the healthcare sector and the cosmetics, personal care and cleaning products sectors in Saudi Arabia. İKMİB Board Chairman Adil Pelister, noting that the chemical industry increased its exports to Saudi Arabia by 74.24 percent in 2023, stated: "We want to benefit from the major opportunities offered by Saudi Arabia and continue our export growth." İKMİB, which for the first time organized a Turkish national participation at Beautyworld Saudi Arabia 2024, held between 11-13 February 2024 in its fourth edition this year, also carried out the "Healthcare Sector Saudi Arabia Sectoral Trade Delegation" between 11-15 February 2024. Within the scope of both events, a total of 41 Turkish chemical companies from the healthcare sector as well as the cosmetics, personal care and cleaning products sectors exported to Saudi Arabia.

"Chemical industry exports to Saudi Arabia increased by 74.24 percent in 2023"

İKMİB Board Chairman Adil Pelister stated: "As İKMİB, we organized two different events simultaneously in February targeting the Saudi Arabian market. One is the Sectoral Trade Delegation we organized for our healthcare sector, the other is the Beautyworld Saudi Arabia fair where we organized Turkish national participation for the first time this year. Saudi Arabia holds significant potential for our companies that want to enter the Middle East market or increase their market share. Major investments are being made in Saudi Arabia recently, and our Turkish companies must investigate their export potential there. Significant opportunities are being offered in many areas. We are seeing the close relations between the two countries reflected in our trade figures. We are closely following the work within Saudi Arabia's 2030 vision. Our chemical sector's exports to Saudi Arabia reached USD 229.4 million in 2023 with an increase of 74.24 percent. Our cosmetics exports to Saudi Arabia in 2023 increased by 270.23 percent to reach USD 35 million. On the other hand, our pharmaceutical product exports to Saudi Arabia in 2023 increased by 74.56 percent to USD 3.5 million. We hope that through both the brand and product presentations at the fair and the bilateral business meetings held during the delegation organization, our companies will establish new business connections. We want to benefit from this major opportunity in Saudi Arabia and continue export growth. We will continue to support our sectors in this direction," he said.

31 Turkish companies participated in Beautyworld Saudi Arabia

Turkish brands made their mark at the "Beautyworld Saudi Arabia" Fair, one of the cosmetics, personal care and cleaning products sector fairs, with the participation of 31 companies. At the fair where İKMİB organized Turkish national participation for the first time this year, products from the Turkish cosmetics and cleaning sectors were presented in detail. A total of 31 Turkish companies participated at the fair, consisting of 11 companies in the national participation organization organized by İKMİB for the first time and 20 individual companies. Exporting companies operating in the cosmetics and cleaning sectors found the opportunity to present a wide variety of products at the fair, such as cosmetics, skincare, perfumes and fragrances, haircare, nail care, raw materials, natural and organic products, and cleaning products. Turkish Ambassador to Riyadh Fatih Ulusoy, Turkish Commercial Counselor to Riyadh Burak Balkanlıoğlu, İKMİB TİM Delegate Ahmet Altuğ Oğuz, İKMİB Board Alternate Member Ahmet Fethi Polat and sector representatives visited Turkish companies participating in the fair.

Approximately 150 bilateral business meetings were held

The Healthcare Sector Saudi Arabia Sectoral Trade Delegation, organized by İKMİB in Riyadh between 11-15 February 2024, took place with the participation of 16 representatives from 10 companies in the medical devices and pharmaceutical sectors. The delegation program, which took place with the participation of Board Alternate Member Ahmet Fethi Polat representing İKMİB and TİM Delegate Ahmet Altuğ Oğuz, included a retail tour on the first day where Mais Co., a medical devices company, was visited. Following meetings with company management, the company's production lines and facilities were visited. Within the scope of the tour, retail chain Makhazen Al-Anaya, which specializes in cosmetics and dermocosmetics sales, and Nahdi Drugstores, one of Riyadh's largest pharmacy chains, were visited to observe both the retail market and the country's production environment on site. On the second day, a networking event was held with National Procurement Company (NUPCO), which carries out medical device and pharmaceutical procurement for Saudi Arabia and serves as the central procurement agency for government and military hospitals as well as supplying products to 30 percent of the private sector. At the organization attended by NUPCO CEO Fahad M. Alshebel and his team, potential business cooperation between Turkish companies and NUPCO was discussed. Additionally, approximately 150 bilateral business meetings were held with the participation of 29 Saudi buyer companies, while Turkish Ambassador to Riyadh Fatih Ulusoy and Turkish Commercial Counselor to Riyadh Burak Balkanlıoğlu visited the companies. On the other hand, during a high-level visit to the Saudi Food and Drug Authority (SFDA) institution by İKMİB Board members, the difficulties Turkish companies face in obtaining SFDA approval were raised and contact points were established to develop solutions.