|Title||[NEWS] Chance to enter the UN Procurement Market|
An Exhibition and Conference to support Korea companies’ excess into the UN Procurement market will be held on October. The event designed to boost participation of Korea Companies, which account for less than 1 percent of the 188millions USD UN Procurement market.
According to STS&P 2019 Organizing Committee, ‘2019 Exhibition·Conference on Smart Technology for Sustainable Development & Procurement’ will be held from October 21st to 23rd at Suwon Convention Center. This is a place where Korea Companies seek to access to UN Procurement and ODA market. STS&P 2019 Organizing Committee, The Korea Economic Daily and UNOPS which is the official procurement organization in UN, co-host the event. Development Assistance Committee(DAC) under Organization for Economic Co-operation and Development(OECD), International Organization such as UN and Multilateral Development Bank(MDB) will participate.
The size of UN Procurement market amounts to 188millions USD and it is on the rise every year. Based on the 193 member countries’ contributions, the UN purchases goods and other items from in member countries and uses them for peace reconstruction and relief and development projects. Last year, South Korea was the 13the largest UN member country to contribute money. It accounts for around 2.0 percent of the total share. However, Korean companies accounted for 0.9 percent of the UN procurement market, the 35th among the member countries.
The UN selects procurement participation companies through public bidding regardless of their reputation and size. Small and medium-sized companies also can participate in UN Procurement market. Companies which have accumulated transaction performance with UN can expand their clients to other International Organization such as World Bank and Asian Development Bank in the future. This is because these Organizations select trading companies based on UN Procurement performance.
A case of procurement participation of Korean Companies is keep growing. Wongin Aluminium Co. signed a contract last year to supply products to Myanmar’s power generator business proceeded by UN and at the same time succeeded in winning a contract to build a container for US troops in South Korea. The achievement was made in six months after preparing for the participation of bidding. Fomus, a furniture maker, also succeeded in delivering products to the U.N.'s Somali business.
Source: The Korea Economic Daily(2019.08.04)
Original Text: https://www.hankyung.com/economy/article/2019080419671
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