U.S. Cosmetics Sectoral Trade Delegation Held

İKMİB organized a US Cosmetics Sectoral Trade Delegation. Within the scope of the delegation, over 300 bilateral business meetings were conducted with the participation of 10 Turkish and more than 50 US and Canadian companies. İKMİB, which carries out numerous activities to contribute to the chemical industry's exports, organized a US Sectoral Trade Delegation for the cosmetics sector. 16 representatives from 10 Turkish cosmetics companies participated in the Sectoral Trade Delegation held in Tucson, Arizona, USA between 1-7 June 2024. Within the scope of the delegation, participating companies presented branded or private label products such as color cosmetics, skincare, personal care products, soaps and wet wipes to buyers. Over 300 bilateral business meetings took place between Turkish companies and more than 50 buyer companies, including major firms and store chains such as Amazon, Bargain Hunt, CVS Health, KeHe, Food Lion, and Walgreen, operating in many US states and the Canadian market.

"Our cosmetics sector increased exports to the US by 7.8% in the first five months of this year"

İKMİB Board Chairman Adil Pelister, stating that sectoral trade delegations help companies strengthen their competitive power in the global market and seize new business opportunities, said: "Within the scope of the US Cosmetics Sectoral Trade Delegation held between 1-7 June 2024 for our cosmetics sector, we brought together 10 Turkish companies with more than 50 US buyers. In the global cosmetics market, the US is the world's second-largest importer and exporter. At the same time, the US, which has the second-largest trade deficit in the cosmetics sector after China, surpassed China in 2023 with approximately USD 22 billion in cosmetics imports. In addition to the US, which ranked third in our country's sectoral exports in 2023, such delegation and fair activities have significant impact on increasing our exports in neighboring country markets. Moreover, sectoral trade delegations contribute to companies achieving sustainable growth. In the January-May 2024 period, exports of our essential oils, cosmetics and soap sector to the US increased by 7.8% compared to the same period last year, reaching USD 50 million. To be more active in these markets and to increase the sector's recognition and visibility, we are planning activities in the region in the coming period. On this occasion, we expect our sectoral exports to maintain their upward momentum."