Ministry of Foreign Affairs Supports Overseas Market Entry for Diagnostic Devices and Pharmaceuticals... 70 Domestic Companies Participate

Joint Webinar with the Global Fund for Overseas Market Entry of Diagnostic Devices and Pharmaceuticals

[Image source=Yonhap News]

[Asia Economy Reporter Lim Cheol-young] On the 27th, the Ministry of Foreign Affairs announced on the 28th that it jointly held a "Webinar for the Overseas Market Entry of Our Diagnostic Devices and Pharmaceuticals" with the Global Fund, attended by about 120 people from 70 domestic companies, academia, and related organizations.

This webinar was held to support Korean companies in contributing to the international community's efforts to eradicate the novel coronavirus infection (COVID-19) by entering overseas markets, amid growing international interest and demand for our diagnostic devices and pharmaceuticals.

At the webinar, the Global Fund and the Foundation for Innovative New Diagnostics (FIND), co-leading institutions in the diagnostic sector of the Access to COVID-19 Tools Accelerator (ACT-A) international cooperation initiative, emphasized the importance of effective COVID-19 diagnostics and introduced ACT-A diagnostic partnership activities and ways for Korean companies to participate.

The Global Fund provided guidance on its own procurement procedures for diagnostic devices and pharmaceuticals to support developing countries, as well as the World Health Organization (WHO)-led COVID-19 diagnostic device procurement methods. Additionally, Korean companies with experience in Global Fund procurement participated in presentations to share key considerations and their experiences and know-how when participating in the international procurement market.

Cho Young-moo, Director of the Development Cooperation Bureau at the Ministry of Foreign Affairs, introduced the cooperation status between Korea and the Global Fund since 2004 and said, "We hope that our companies can contribute to global health promotion by supplying excellent domestically produced diagnostic devices and pharmaceuticals to the international community through cooperation with the Global Fund."

He added, "Our government is actively contributing to the international community's COVID-19 response through △ contributions to ACT-A partner organizations, △ humanitarian support for COVID-19 worth 100 million USD, and △ experience sharing via webinars and video conferences."

The Ministry of Foreign Affairs plans to continue efforts to support the overseas expansion of our companies through strengthened cooperation with health organizations including the Global Fund, ensuring that our excellent diagnostic devices and pharmaceuticals are widely distributed to the international community, including developing countries, contributing to the prevention and eradication of infectious diseases such as COVID-19.

This content was produced with the assistance of AI translation services.