EDC and ICBK sign MoU to promote Canada as RMB hub

Region:

Americas, Asia-Pacific

Dalia Gebrial

News, Data & Events Executive

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The Canadian export credit agency (ECA), Export Development Canada (EDC), has signed a memorandum of understanding (MoU) with the Canadian arm of the Industrial and Commercial Bank of China (ICBK), agreeing to work together to promote the use of renminbi (RMB) as a currency of settlement in trade-related transactions.