The Ministry of Commerce plans to integrate state-owned Cambodia Post’s transportation system into CambodiaTrade.com, looking to make the distribution and delivery process easier, faster and safer for small- and medium-sized enterprises (SME) and consumers that buy merchandise on the e-marketplace.
A memorandum of understanding cum technical assistance agreement was virtually signed to this effect on September 21 by ministry undersecretary of state Samheng Bora and Cambodia Post director-general Then Samvisoth.
The ministry soft-launched CambodiaTrade in mid-June to open up new pathways for the Kingdom’s SMEs to sell their wares to a broader audience and capture a slice of the growing global digital economy.
And on August 30, it entered into a partnership with Wing Bank (Cambodia) Plc, a subsidiary of local conglomerate Royal Group of Companies Ltd, to facilitate digital payments on the platform.
The ministry’s Bora welcomed Cambodia Post to CambodiaTrade, stressing that the state-owned enterprise’s presence would be of great consequence to the domestic and international distribution and delivery of ordered products.
“This collaboration, in the context of new digitalisation processes through the use of new digital technologies, will enable significant strides towards the advancement of e-commerce, especially during the Covid-19 pandemic, making it a driving force behind national economic development,” he said.
He believes that the pact will foster a strong foundation of cooperation between the two signatories that will lead to a successful link between Cambodia Post’s transportation system and the e-marketplace.
Late last month, Minister of Commerce Pan Sorasak remarked that the ministry opened pre-registration for CambodiaTrade to local SMEs as part of its mid-June soft launch, in the hopes that these businesses would use the integrated tech platform to export domestic wares and widen their markets – in the Kingdom and abroad.
The official launch ceremony for the e-marketplace will be held “soon”, he said.
“The establishment of CambodiaTrade.com is in line with the context of rapid technological evolution in Cambodia.
“Historically, we all depended on the export of Cambodian products to overseas markets through cross-border trade with trading partners. And those exports account for about 55 per cent of Cambodia’s gross domestic product [GDP].
“With the advancement of new technologies, many companies are shifting their business to e-commerce, selling on e-marketplaces and social media.
“E-commerce activity in Cambodia has also grown significantly, especially during the Covid-19 outbreak. Seeing the aforementioned development, the Ministry of Commerce has created the CambodiaTrade.com, tailoring opportunities to the benefit of SMEs,” Sorasak said.