Two Korean Companies Enter NATO Procurement Market for the First Time

[Asia Economy Reporter Lim Cheol-young] Korean companies have participated for the first time in an international bidding organized by the NATO Support and Procurement Agency (NSPA) and succeeded in winning a contract worth 1 million euros.

On the 4th, the Ministry of Foreign Affairs announced that recently two companies participated in the bidding for the 'Afghan National Army Trust Fund (ANATF)' pharmaceutical procurement project announced by the NATO procurement agency last year and secured some items for supply.

ANATF is a fund established in 2006 to strengthen the Afghan military capabilities, operated by the United States and executed by NATO. The Korean government has also contributed financially to the fund to help secure peace and stability in Afghanistan.

The Ministry of Foreign Affairs has been supporting Korean companies' participation in the ANATF project by consulting with NATO, providing guidance on related project details and bidding procedures, and encouraging interested companies to participate. Until 2018, only companies from NATO member countries could participate in the ANATF project, but after consultations with NATO, from 2018 onward, Korean companies have been allowed to participate in trust fund projects to which the Korean government has contributed financially.

The Ministry of Foreign Affairs also introduced major ANATF projects to interested Korean companies, held two briefing sessions on participation in the NATO procurement market, and shared related information to support bidding participation.

An official from the Ministry of Foreign Affairs stated, "The first participation and successful bidding of our companies in the NATO procurement project is significant as it marks our first entry into the NATO procurement market, and it is expected to serve as a stepping stone for expanding future market entry." He added, "We will continue efforts to support our companies' entry into procurement markets of NATO and other international organizations."