Legal Document

Korean Trade Agency Aims to Boost E-Commerce in Kingdom

A group of 30 executives signed a memorandum of understanding (MoU) with the Cambodian office of the Korea Trade-Investment Promotion Agency (KOTRA) yesterday to pave the way for improving online business in the Kingdom. 

KOTRA will match them with a team in South Korea to help them develop online businesses here. This will also open the door to Korean companies that want to sell their products in Cambodia, the agency said. 

Sam Phalla, product manager at a company that sells surveillance cameras and cosmetics online, said the Cambodian team decided to work with KOTRA because it can help them expand their businesses through online shopping. “If we contact big companies in Korea directly we may not get a response, but the MoU will help us bring products from Korea to sell online here,” Mr. Phalla said. “This type of business is starting to work very well in Cambodia.” 

Rami Sharaf, CEO of WorldBridge International, a major online shopping portal here, previously said he was “very enthusiastic” about the potential for e-commerce in Cambodia. 

The Commerce Ministry plans to finalize a draft law on e-commerce by the end of the year to regulate electronic trade ahead of the start of the ASEAN Economic Community (AEC) from the end of the year. The law will regulate online agreements and online signatures in accordance with international standards, officials have said.  – Sum Manet