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CambodiaTrade Opens Opportunities for Local SMEs to the International Markets
News provided byEIN Presswire
Nov 20, 2023, 10:42 AM ET
New expanding economic opportunities for local and women-led SMEs.PHNOM PENH, CAMBODIA, November 20, 2023 /EINPresswire.com/ -- MEs in Cambodia have played an important role in contributing to socio-economic development, ensuring worldwide inclusion and national economic growth. Technology has the potential to boost the productivity and growth of SMEs, and the economy is quickly becoming digitalized. Thus, SMEs need to embrace timely solutions to compete and run their businesses effectively.
Digitalization and Benefiting From the E-commerce Platform
As a result, CambodiaTrade, an online marketplace operated by the Ministry of Commerce, has actively assisted local SMEs to export products Made-in-Cambodia and broadened Cambodia's economic opportunities. The first B2B e-marketplace platform, CambodiaTrade, works to gather potential SMEs to sell products Made-in-Cambodia to domestic and international markets. In addition, this platform seeks to expand business opportunities for Cambodian SMEs through engagement in the digital economy, particularly for those run by women and located in provinces.
Up to 1500 authentic Cambodian products are currently for sale on the fully integrated platform known as cambodiatrade.com, which can connect 164 businesses throughout the country. According to insight data, 49% of SMEs registered with CambodiaTrade are run or owned by women. This marketplace is being created with financial assistance from the EIF (Enhanced Integrated Framework) and the Royal Government of Cambodia as part of the Go4eCAM project, with the main goal of helping Cambodian SMEs reap the benefits of e-commerce.
The Significance of GIs and OVOP
The platform has listed a wide range of products, including those in the food and beverage, gift and handicraft, agriculture, and agro-processed. Inside the platform, you’ll find 2 special categories which are Geographical Indication Products (GIs) and One Village One Products (OVOP). These two categories are important highlights for customers to differentiate the products that are certified for their standard of quality and uniqueness from the rest.
By purchasing GIs products, consumers are selecting goods with a distinct geographic origin and qualities that are special and essentially attributable to their origin in Cambodia, such as the Kampot pepper, the salt flower of Kampot and Kep, the palm sugar of Kampong Speu, etc. Picking an OVOP indicates favor of a movement that emphasizes the distinctiveness of local resources and culture in Cambodia.
This platform enables customers to have a secure shopping experience for both small-scale and bulk purchases, with simple door-to-door delivery available wherever they live in or outside of Cambodia. The site is completely integrated with logistic service providers and a number of payment options.
Positive Impacts and Economic Benefits
The CambodiaTrade platform has been accessed so far from 150 different nations. The platform has been bridging the gap by enabling purchases from the USA, France, Japan, Australia, Singapore, Switzerland, and the Netherlands. This demonstrates how ready Cambodian SMEs are to dominate the global market with their authentic products.
CambodiaTrade has tremendously positive effects. By making purchases from local merchants, the company shows support and encourages producers and entrepreneurs to maintain the national identity by embedding it in their products. They want to support local producers and have consumers enjoy the availability of fresh, high-quality goods while also supporting the effort to establish credibility for Cambodian-Made Products on the global market.
The Future of CambodiaTrade
Regarding the future of this platform, CambodiaTrade.com will be featured as a dynamic sourcing platform offering advanced features for cross-border e-commerce. It simplifies connections between international buyers and Cambodian SMEs, providing tools for efficient supplier discovery and wholesale activities. The platform boasts a robust trust verification system, ensuring reliability in sourcing. Business matching events facilitate valuable connections, while a wealth of educational resources and training opportunities empower users. Exclusive campaign-based discounts and a forward-looking approach to future integrations make CambodiaTrade an indispensable resource for businesses seeking quality suppliers and growth opportunities in Cambodia.
CambodiaTrade is an e-commerce marketplace operated by the Ministry of Commerce of Cambodia to serve Cambodia’s small and medium enterprises to sell their products online to potential clients in the domestic and cross-border markets.
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