The Ministry of Commerce and Wing Bank (Cambodia) signed a memorandum of understanding on system integration of CambodiaTrade marketplace and payment system to make it convenient, fast and secure for customers and small and medium enterprises (SMEs).

The MoU was signed at the Ministry of Commerce on Aug. 30 under the presidency of H.E. Pan Sorasak, Minister of Commerce and Neak Oknha Kith Meng, Chairman of Royal Group of Companies.

“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,” said H.E. Pan Sorasak, Minister of Commerce.

The ministry rolled out CambodiaTrade for pre-registration by SMEs in mid-June 2021 by providing them with a fully integrated platform that allows them to reach a broader market in Cambodia and overseas, granting them access to the growing global digital economy.

CambodiaTrade marketplace is an important part of the Go4eCAM project which is implemented under financial support from the Enhanced Integrated Framework. It is an initiative from the Ministry of Commerce with the objective to increase economic opportunity for SMEs in participating in e-commerce and digital economy.

“This partnership allows us to contribute to the development of SMEs in Cambodia using digital payments,” said Mr. Han Peng Kwang, Wing Bank’s Chief Executive Officer.

Wing Bank will also extend its digital financial literacy to SME members of CambodiaTrade by hosting free training and capacity building activities.

The Ministry of Commerce and Wing Bank will work to boost digital commerce and digital payment in Cambodia.

Source: Agence Kampuchea Press

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