Cambodia Trade to launch in weeks

Cambodia Trade to launch in weeks

Cambodia Trade, an online marketplace for small and medium enterprises (SMEs), is scheduled to operate officially in weeks after 16 firms were approved by the Ministry of Commerce to display their products.

Pen Sovicheat, spokesman at the Ministry of Commerce, said: “The Ministry of Commerce just signed with Wing Bank on a digital payment system. We expect that Cambodia Trade will be online in late September or early October.”

“We have done many promotions to attract SMEs to come to the online marketplace because, in the digital context, purchases and placing orders are easily made online,” he added.

He did not name the SMEs that have been approved nor what kinds of products would be available.

The eligible products in online marketplaces are those that are locally made and hand-crafted.

Both local and foreign companies were eligible to apply to join the marketplace.

Speaking at the signing ceremony on Monday, Pan Sorasak, minister of commerce, CambodiaTrade allows SMEs to reach a broader market in Cambodia and overseas, granting them access to the growing global digital economy.

“The signing of this MoU marks a special event in our cooperation with private sectors, in particular Wing Bank, to assist Cambodian SMEs to increase the economic opportunities by selling Cambodian-made products to both domestic and cross-border consumers and business partners. Regardless of where you are, you can access Cambodian products,” Sorasak said.

Before launching Cambodia Trade, more SMEs are expected to register and join in the online marketplace, Sovicheat added.

The CambodiaTrade e-marketplace was developed with financial support from the Switzerland-based Enhanced Integrated Framework for Trade-Related Assistance for Least-Developed Countries and Cambodia hopes it will make the Kingdom less reliant on foreign financial aid. Khmer Times