Cambodia attractive market for luxury European brands and construction companies

Hosted by the European Chamber of Commerce in Cambodia, the event has proven especially effective in drawing European construction companies and luxury brands that are attracted to local markets due to the Kingdom’s consistent economic growth.

One such company, Eurasia Concept, imports and sells luxury European-brand furniture and decor in Southeast Asia. Though the company launched in Cambodia just last November and has not yet established a local office, it has already seen a high demand for its products among owners of both commercial and residential properties.

“Cambodia is booming economically, and it’s absolutely full of construction,” said Sergio Della Giovanna, design manager at Eurasia Concept. “These buildings need furniture, and many of the newly-constructed buildings in Phnom Penh need to be outfitted in luxury.”

He added that Cambodia is an especially attractive market in the region because there are few active players in the luxury furniture industry at this point in time.

Stefano Antoniazzi, partner at Italian-based construction company Daas and Vernici, echoed these same sentiments when he noted that Cambodia’s rapid construction boom has yet to be accompanied by an adequate increase in companies offering necessary construction services like industrial cleaning, corrosion protection and other technical work.

“It’s not that Cambodia doesn’t have the right tools for construction–it’s just that so often, companies here are not aware of how to safely and correctly use these tools,” Antoniazzi said. “That’s where we come in. We’re here because there’s a lot of construction, and not many companies that are effectively maintaining these buildings.”

While many European companies have set up booths at this year’s EuroFair, there is also a strong showing from Cambodian businesses interested in tapping into the vast European market.

In 2017, total trade between Cambodia and members of the European Union amounted to nearly $7 billion, establishing the EU as Cambodia’s second biggest trading partner. Cambodia has consistently exported far more than it has imported from these markets, with 2017 exports to Europe reaching nearly $6 billion.

Artisans Angkor, a handmade crafts and silks company that employs underprivileged and disabled Cambodian craftsmen, has set up shop at the fair in the hopes of establishing contacts in the robust European market that might import their locally-produced goods.

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