Logo of Phnom Penh Post newspaper Phnom Penh Post - Commercial market in Kandal raises hopes for trade with China

Commercial market in Kandal raises hopes for trade with China

Content image - Phnom Penh Post

Commercial market in Kandal raises hopes for trade with China

Commerce Minister Pan Sorasak has high hopes for the new China Commercial Market, saying on Thursday that it would help the Kingdom’s businesses export more to the regional powerhouse.

Speaking at the inauguration ceremony in Kandal, Sorasak said the market will help promote Cambodian goods in China.

“The market will absorb domestic goods produced by SMEs to boost exports,” he said, adding that jobs will also be created in the venture.

The China Commercial Market is located along National Road 4 in Kandal province’s Ang Snoul district.

Zhang Ying, the deputy director of the Trade Department of Sichuan province, who also attended the inauguration, said the market was a move in his country’s “One Belt, One Road” development initiative.

China is the largest investment partner in Cambodia. The value of bilateral trade between the two countries hit $5.8 billion last year, with exports from Cambodia accounting for $1 billion of that figure, according to statistics from the Ministry of Commerce.

MOST VIEWED

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement

  • Cambodia detects new Covid cases after 52 days: PM

    After 52 days of zero new Covid-19 cases, Cambodia has now detected new infections, according to Prime Minister Hun Sen. In his special audio address to the nation late on June 28, Hun Sen said the new cases were detected on people who had undergone PCR tests

  • Gold-covered boundary stone found within Angkor Thom’s West Gate

    The Apsara National Authority (ANA) announced that their working group in charge of restoration work at Angkor Thom's Takav Gate or the West Gate recently found an ancient stone slab commonly known as a boundary stone. The boundary stone is 53 cm by 53 cm and 12 cm

  • Higher education leaders tour US

    With support from the US Department of State, 10 Cambodian leaders in higher education participated in the 10-day International Visitors Leadership Programme (IVLP) in three US states from June 19 to July 1. They included nine university rectors and directors of higher education institutions who are members of