Focus is on critical minerals, defence and other sectors vital to economic resilience and national security

OTTAWA, ON and LONDON, April 29, 2026 /CNW/ - The export credit agencies of both Canada and the United Kingdom, Export Development Canada (EDC) and UK Export Finance (UKEF), have signed a Memorandum of Understanding (MOU) to help strengthen the development of a reliable and competitive critical minerals supply chain. Signed on the sidelines of the G7 Senior representatives of Export Credit Agencies meeting in Washington, D.C., the partnership also seeks to advance Canada–UK collaboration in sectors essential to economic competitiveness and security, including defence, clean energy, digital technologies and AI, and advanced manufacturing.

This partnership aligns with G7 efforts to strengthen critical minerals supply chains, so they are more diversified, transparent, resilient and sustainable, as outlined by the Critical Minerals Production Alliance and the Toronto Action Plan on the Circular Economy.  

Under the MOU, EDC and UKEF will establish a framework for cooperation to promote and support Canadian and UK interests in critical minerals projects and opportunities. Both organizations commit to explore ways to collaborate on initiatives in Canada and internationally that involve Canadian and British goods and services. The agreement will help facilitate shared experience and best practices related to export credit, structured finance and trade finance. It also aims to mobilize investment into Canadian projects and capital into the critical minerals sector.

In line with trade diversification and economic competitiveness goals shared by both countries, EDC and UKEF also commit to cooperate in other strategic sectors by sharing knowledge and best practices and helping exporters navigate evolving opportunities and risks. These areas include mining (critical minerals as well as base and precious metals), nuclear energy, advanced manufacturing, defence and digital technologies. These sectors support secure supply chains, innovation and productivity as well as advance the transition to a more resilient, lower‑carbon economy.

Supported by tariff-free access under the Canada–U.K. Trade Continuity Agreement, the United Kingdom and Canada are important and enduring partners and offer each other stable business environments for long-term commercial engagement. 

For more than a decade, EDC has served Canadian companies in the U.K. through its representation in London, by unlocking capital, reducing non-payment risk, and providing on-the-ground expertise and market intelligence.

EDC is expanding its European presence to help exporters and investors pursuing opportunities across the U.K. and continental Europe by opening additional representations in Paris, Warsaw, and Stockholm in 2026.

Quotes

"From defence readiness to energy security, critical minerals are foundational to today's strategic supply chains. By enhancing our cooperation with UK Export Finance, EDC commits to exploring ways to mobilize capital that can help advance responsible critical minerals projects, support good jobs, build stronger infrastructure and capabilities in Canada and the U.K. as we work to deliver on shared G7 priorities."
Alison Nankivell, President and CEO, EDC

"This agreement between EDC and UKEF is exactly the kind of partnership Canada is pursuing. It deepens our ties with one of our most trusted allies, opens doors for Canadian businesses in critical minerals, defence, and beyond, and builds the resilient supply chains our two countries depend on. This is Team Canada in action."
The Honourable Maninder Sidhu, Minister of International Trade

"Canada has what the world wants, and we are taking decisive action to become a global mining superpower. This agreement strengthens Canada–UK cooperation at a time when trusted supply chains matter more than ever. By aligning our export credit agencies and advancing the Critical Minerals Production Alliance, we are mobilizing capital, accelerating projects, and reinforcing economic competitiveness and security among allies."
The Honourable Tim Hodgson, Minister of Energy and Natural Resources

"This agreement with EDC marks an important step forward in our shared commitment to building more resilient and diversified critical minerals supply chains. Canada is a vital partner for the UK, and by working together we can do more to support businesses on both sides of the Atlantic to access the financing, expertise and market opportunities they need. Whether in critical minerals, clean energy, defence or digital technologies, this partnership reflects our shared ambition to strengthen economic security and keep pace with the opportunities and challenges shaping global trade."
Tim Reid, CEO, UK Export Finance

"Through critical minerals, clean energy and defence and backed by our Modern Industrial Strategy, we are building the kind of resilient, diversified supply chains that will underpin our economic security for decades to come. This partnership sends a clear signal that the UK and Canada are committed to working together to secure those foundations and to growing trade that benefits both our nations."
UK Trade Minister Chris Bryant

About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca. 

About UK Export Finance
UK Export Finance (UKEF) is a UK government ministerial department and the nation's export credit agency (ECA). UKEF help exporters access working capital and manage the risk of not getting paid by offering a government guarantee and partnering with private sector finance providers to grow UK exports and international trade. www.gov.uk/uk-export-finance

SOURCE Export Development Canada