In the article, I have written to share positive viewpoints on the long-term growth of E-commerce in Cambodia. Of course, there is a question about the e-commerce industry in Cambodia. Can an e-commerce platform in Cambodia gain a long-term growth opportunity? We will discuss and contribute my opinion to help judge and make decisions, even for a startup or the on-launch enterprise holders. Let’s see something as follows.
When the COVID-19 pandemic continues, and the world economic recovery slows down, the upcoming Regional Comprehensive Economic Partnership (RCEP) will promote free trade and help Cambodian companies seize trade and investment fields and gain long-term development opportunities.
With the implementation of RCEP, the facilitation of customs clearance will enable the commodities of member states to enter Cambodia at a low cost, which is conducive to the development of local e-commerce platforms and attracts more investment. At the same time, it also meets the needs of local consumers and meets the current income situation of the local middle and low class.
With RCEP, relevant regulations have been assembly in digital certification, consumer rights protection, tariffs, etc. Local e-commerce platforms can cover both local and cross-border businesses and benefit significantly.
Therefore, local e-commerce platforms are looking forward to strengthening cooperation with Chinese companies in e-commerce, payment systems, financial technology, digital currency, etc. RCEP provides a better framework for this economic and technological cooperation.
In the future, RCEP will enable Cambodian products and services, especially agricultural products, to gain many trade opportunities, including in the Chinese market. At the same time, the agreement will also help capital from other countries discover investment opportunities in Cambodia’s digital economy, agricultural product processing, and other fields.
By joining RCEP, Cambodian enterprises will gain access to more extensive market opportunities. The agreement involves trade facilitation, which will help reduce enterprise management and transportation costs. It is very beneficial to emerge businesses such as technology and the digital economy, especially for e-commerce platforms that already have sufficient resources for expansion.
With the implementation of RCEP, the flow of human resources with technical expertise will accelerate within the region. The local area will absorb more technologies from abroad, especially in China, to develop the digital economy and promote the establishment of an Internet ecosystem. At the same time, RCEP will promote economic globalization and help less developed countries narrow the development gap.
The above is just my personal opinion on the sustainable development of the current Cambodian e-commerce platform and forecast for its outcome in the future. There is what I see with a bit of reference to the current industry situation, combined with the direction of RCEP to explore one of the long-term development opportunities. If there is a misjudgment, please confront the constructive comments for correction.