HARPER SIGNS IMPORTANT CURRENCY AGREEMENT WITH CHINA

Nov 08, 2014

By Bob Sheppard

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Prime Minister Stephen Harper and Chinese Premier Li Keqiang have signed a reciprocal currency agreement that will eliminate the need for trade between the two countries to take place in U.S. dollars. 

Canada`s exporters are currently forced to use American currency when doing business in China. That means they`re faced with higher currency exchange costs, and longer waits to complete a deal.

This new currency hub deal means Canadian exporters can deal directly with Chinese businesses, and it’s expected to dramatically boost Canada`s exports.

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