[INNEWS Comprehensive Report] The Cambodia-ASEAN International Wholesale Market (also known as the New Phsar Daeum Kor Market) is scheduled to open before the end of 2023 and has attracted nearly 70% of traders to register.
The construction of the new Phsar Daeum Kor in Phnom Penh will begin in 2022 and is led by the Guangxi General Chamber of Commerce of Cambodia. It covers an area of more than 20 hectares and is located on Shuangying Avenue, Goroka Subdivision, Phnom Penh City. The market features multiple stalls offering 6,000 trading opportunities.
Phnom Penh Mayor Khuong Sreng said that after the new Phsar Daeum Kor market opens, it will become a wholesale center for local Cambodian goods, and may include imported goods. The market will showcase a wide variety of products, including vegetables, materials and furniture, which can be imported, wholesaled and distributed from neighboring countries and China to 24 provinces across Cambodia.
Chinese Ambassador to Cambodia Wang Wentian congratulated Phnom Penh’s first large-scale wholesale investment project, saying that this is a reflection of the Cambodia-China diamond strategic friendship, unity and cooperation advocated by the leaders of the two countries. The Guangxi General Chamber of Commerce in Cambodia stated that the company has arranged to hand over the stalls to operators, and they will sign a five-year contract, two of which are free.
This is Cambodia’s largest market, with a cargo capacity of 60,000 tons. It is expected that domestic products and products imported from other countries will be sold here, especially products from neighboring countries such as China, Vietnam and Thailand.
According to a report released by the General Department of Customs of Cambodia (GDCE), from January to September 2023, Cambodia’s total import and export of goods with all trading partners was US$35,162.44 million, a decrease of 3.5% from the same period in 2022. Among them, Cambodia’s exports to the international market were US$16.9458 billion, a decrease of 0.8%, and imports were US$182.1664 million, a decrease of 5.9%.