PHNOM PENH: On October 16-17, 2024, the Asian Development Bank (ADB) and Cambodia’s Ministry of Commerce (MOC) hosted a series of stakeholder consultations to review the draft Cambodia E-commerce Trustmark Scheme (CETS).
The consultations, held in Phnom Penh, were attended by over 80 representatives from various government agencies, small and medium-sized enterprises (SMEs), large corporations, and industry chambers. The workshops were facilitated by the ADB Office of the General Counsel’s Law and Policy Reform Program.
During the event, MOC Secretary of State Excellency Chea Ratha and Legal Affairs Department Director Excellency Sam Chetra expressed their appreciation for ADB’s timely support in developing the CETS. They highlighted the scheme’s importance in bolstering Cambodia’s e-commerce ecosystem and enhancing the competitiveness and reputation of local e-commerce businesses.
ADB’s Country Director for Cambodia, Ms. Jyotsana Varma, emphasized the critical role of an e-commerce trustmark in fostering consumer confidence. She explained that such a scheme can help ensure the security of online transactions, promote ethical business practices, and protect consumer rights. Varma further noted that the CETS is particularly valuable for SMEs seeking to expand both domestically and internationally.
Cambodia’s E-commerce Landscape
According to the International Trade Administration (ITA), digital expenditures in Cambodia have been steadily increasing. In 2021, digital expenditures as a share of consumer spending per capita reached 6 percent, nearly matching the Asia-wide average of 7 percent.
E-commerce, e-travel, e-services, and digital media markets contribute to these digital expenditures. In 2021, Cambodia’s e-commerce market generated $970 million, accounting for a substantial 88.6 percent of its total digital expenditure. The fashion sector was the largest segment within the e-commerce market, with revenue reaching $264 million.
The e-commerce market is expected to continue growing at a rate of 16.4 percent per annum, reaching a market volume of $1.8 billion by 2025. This growth is indicative of the increasing popularity and adoption of online shopping in Cambodia.