A memorandum of understanding (MoU) was signed on Monday by Serbia’s central bank and China’s central bank to establish yuan clearing arrangements in Serbia.
According to the statement of the central bank, intensive cooperation between the two central banks in the execution of transactions in Chinese yuan by banks in Serbia is regulated by the MoU.
NBS noted that cross-border transactions in Chinese yuan by companies and financial institutions in China and Serbia will be promoted and trade and investments will be facilitated by the establishment of a clearing arrangement in Serbia.
NBS governor Jorgovanka Tabakovic said that NBS put the Chinese yuan on the list of currencies which can be traded on the domestic foreign exchange market in January 2015, being an institution that closely monitors the needs of the domestic economy and market and creates stimulating conditions for efficient business operations. Chinese yuan is necessary for the Serbian financial markets due to strong growth of trade between the countries, as well as high investment inflows.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.
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