SACE, Italy’s Export Credit Agency, and the Government of the Republic of Serbia have signed a Memorandum of Understanding today.

The Agreement – signed by Alessandra Ricci, Chief Executive Officer of SACE, and Tomislav Momirović, Minister of Domestic and Foreign Trade, representing the Serbian government - was announced in occasion of the Italy-Serbia Business Forum in Belgrade.

Under the Memorandum SACE and the Serbian Government committed to create a collaborative framework to explore new opportunities and strengthen economic and trade cooperation between Italy and Serbia. To this end, the Agreement focuses in particular on: sharing information on new business opportunities; identifying SACE insurance-financial solutions to support Italian exports to Serbia; organizing Education and Business Matching initiatives between Italian and Serbian counterparts; supporting the positioning of Italian companies in Serbian supply chains.

"This Agreement represents an important step towards a collaboration that will bring concrete opportunities and long-term development for both Italian companies and Serbia," said Alessandra Ricci, Chief Executive Officer of SACE. "It will promote our exports in a country with great potential with important projects not only in the area of infrastructure projects but also in cutting-edge sectors where Italian companies can offer a valuable contribution with their technologies and know-how appreciated all over the world”.

Through this Agreement, SACE confirms its commitment to support the export activities and the Italian companies’ internationalization in a significant target market such as Serbia, of which Italy is the third trading partner. In fact, trade relationship between the two countries in 2022 has grown by 11% with respect to the previous year, exceeding a value of 3.7 billion euros, with export rate increasing (+14.8 %) especially in the textile and clothing sector (+31.6 %).