Phsa Daeum Kor Market is currently located along Monireth Street in Tuol Kork district. - Phnom Penh Post/ANN
PHNOM PENH (Phnom Penh Post/ANN): Cambodia's Asean-International Wholesale Market, also known as Deum Kor Thmey – the country's largest wholesale marketplace – is set to open by the end of the year.
Presently, approximately 70 per cent of traders have completed their registrations.
Located along Win-Win Blvd in Kork Roka commune of Phnom Penh’s Prek Pnov district, on the outskirts of the city, the project commenced construction in 2022, encompassing an area of over 20ha. Led by China’s Guangxi Business Development Association (GBDA), the initial phase of 6,000 stalls has already been completed.
With inspecting the site along with Chinese ambassador Wang Wentian on October 12, Phnom Penh governor Khuong Sreng said the market would function as a comprehensive wholesale hub, catering to both local and imported goods, and that a diverse range of merchandise will be available.
“[The market] will offer vegetables, materials, furniture and more. It will accommodate imports from neighbouring countries and China, distributing products across all 24 provinces. The location is ideal,” he said.
He highlighted the market’s potential to alleviate congestion in the capital, particularly among the business community on Monireth Street in Tuol Kork district, where Phsa Daeum Kor Market is currently located.
Wang commended the wholesale investment project, emphasising its importance in strengthening the Cambodia-China “diamond cooperation” framework, a manifestation of friendship and collaboration initiated by the two countries’ leaders.
He said the GBDA will transfer stalls to business owners in December, under a five-year contract with the initial two years being free of charge. With a capacity of 60,000 tonnes of goods, the market will stock local Cambodian products and imports from neighbouring nations including Vietnam and Thailand as well as China.
According to the Ministry of Agriculture, Forestry and Fisheries, Cambodia exported over 5.5 million tonnes of agricultural products to international markets in the first nine months of 2023, spanning 71 countries and territories, resulting in earnings exceeding $3.21 billion.
The export volume comprises more than 450,000 tonnes of milled rice, over 1.8 million tonnes of paddy rice and more than 3.3 million tonnes of non-rice agricultural products.
Data from the International Commodity Trade Statistics report, released by the General Department of Customs and Excise (GDCE) on October 10, indicates that during the nine-month period, trade between Cambodia and its partners, both exports and imports, reached a total value exceeding $35 billion, marking a 3.5% year-on-year decrease.
Cambodia’s exports to international markets amounted to nearly $17 billion, down by 0.8%, while imports exceeded $18 billion, reflecting a 5.9% decrease. - Phnom Penh Post/ANN
