Uae: cosmetics, promising market for Italian products

Italy Chamber of commerce event brings accords for 19 firms

16 March, 17:16

    A moment of Italian Beauty, Wellness and Spa in Dubai A moment of Italian Beauty, Wellness and Spa in Dubai

    (ANSAmed)- DUBAI - A promising area for trade has developed between Italy and the United Arab Emirates (UAE) in the cosmetics sector.
    The mission Beauty, Wellness & Spa, organized by the Italian chamber of Commerce in at UAE (licuae) at the beginning of March has already led to concrete proposals and contracts.
    ''The event could not have had a more positive impact'', said the secretary general of licuae, Mauro Marzocchi. ''Out of the 24 companies participating, 19 have already signed agreements with partners from the UAE or Gulf countries''.
    The business-to-business initiative in Dubai has in fact represented a launching pad also for countries from the Gulf Cooperation Council (GCC), which include Saudi Arabia, Kuwait, Qatar, Bahrain and Oman, as well as the UAE.
    Data provided by the Dubai Customs authority showed that commercial trade in the cosmetics and perfume sectors in the first semester of 2014 grew 11%, or 2.6 billion euros - 1.7 million in imports, 233 million in exports and 726 million in re-exports, especially towards markets in Saudi Arabia, Egypt and Oman.
    ''Mass'' cosmetics represent the largest part of the market, well over 40%, while ''premium'' products are almost 30%. Most of the consumers of ''premium'' cosmetics and perfumes in the region hail from the two largest economies in the area: the Saudi oil kingdom and the UAE. (ANSAmed).

    © Copyright ANSA - All rights reserved

    Business opportunities

    The information system of business
    opportunities abroad

    News from Mediterranean