Colombia Virtual Trade Delegation Held 123 Bilateral Business Meetings

Istanbul Chemical Substances and Products Exporters Association (İKMİB) took one of Turkey's first steps in digital trade by organizing the "Colombia Virtual Trade Mission" from 11-22 May. At the event attended by 30 buyer companies from 10 different countries, 12 Turkish companies operating in the building chemicals and paints sector conducted a total of 123 bilateral business meetings. During the pandemic, events such as trade missions, purchasing delegations, and fairs could not be held. The Ministry of Commerce decided to organize virtual trade missions and virtual fairs as a new method to sustain trade. İKMİB, which implemented a first in Turkey, organized a webinar on 30 April 2020 providing information about the Colombia market as part of the Colombia Virtual Trade Mission. İKMİB Board Chairman Adil Pelister, noting that the Colombia Virtual Trade Mission was productive, said: "As İKMİB, by starting to organize virtual trade missions, we took one of Turkey's first steps in digital trade. We successfully completed this first virtual organization. For the bilateral business meetings (B2B) section of our Colombia Virtual Trade Mission, 12 companies from our paints, building chemicals and infrastructure plastics sectors participated. Our target was Colombia and other neighboring markets in the region. Under this scope, our participating companies had the opportunity to meet with 30 buyer companies from 10 different countries: Colombia, Argentina, Ecuador, Costa Rica, Mexico, Paraguay, Peru, Puerto Rico, Chile and Uruguay during the program. We ensured that each company met with at least 8 companies, resulting in a total of 123 bilateral business meetings. Within the scope of the program, meetings were held with different buyer groups such as building supply stores, construction materials wholesalers, project companies, and architectural offices. Additionally, product presentations by our participating companies were made through the website we prepared at https://www.turkishbuildingchemicals.com/."

"Our chemical exports decreased by 4.99% to USD 60.509 million"

Pelister, emphasizing that they place great importance on the Latin America market as a chemical sector, continued: "Our total chemical exports to Argentina, Ecuador, El Salvador, Colombia, Costa Rica, Mexico, Panama, Paraguay, Peru, Chile and Uruguay were USD 222.564 million in 2018, and USD 204.546 million in 2019. In the four-month period of 2020, we see that our chemical exports to these countries decreased by 4.99% to USD 60.509 million. However, when we look at the exports of our paints, building chemicals and infrastructure plastics sector—which organized this mission—to these countries, we see that in 2019 it increased by 10.10% compared to the previous year to USD 52.925 million. Therefore, this market has significant potential for our relevant subsectors. While our exports of the relevant product groups to this region in the four-month period of 2020 increased by 4.76% to USD 15.574 million, in the last 12-month period our exports have increased by 9.72%."

"Virtual trade missions have been brought under the Ministry of Commerce support scheme"

Pelister expressed particular satisfaction regarding participants' contentment with meeting potential buyers within the virtual trade mission organized during the COVID-19 process. "The realization of this organization, which would normally take considerable time, in such a short period, being held in a home or office environment, and enabling meetings with buyers from 11 different countries has been a serious morale booster for our exporting companies," Pelister said. "With this occasion, we aim for our participating companies to sign long-term partnerships. We believe this will make serious contributions to our exports. Furthermore, our Minister of Commerce Ruhsar Pekcan announced that e-commerce website memberships, fair participation, fair organization and virtual trade missions of our exporting companies have been brought under the Ministry of Commerce support scheme. For participation in virtual trade missions and virtual fairs, 50% of organizational expenses and up to USD 50,000 per activity will be supported. Thus, another request from our exporters has been met by our Ministry of Commerce. We thank President Recep Tayyip Erdoğan, our Minister of Commerce Ruhsar Pekcan and our Turkish Exporters Assembly Chairman İsmail Gülle for the support they have provided to our exports and exporters."