SACE signs five agreements in Uzbekistan and Kazakhstan to support Italian exporters
In the framework of the Italian Government Mission to Uzbekistan and Kazakhstan, SACE, the Italian insurance and financial group owned by the Ministry of Economy and Finance, has signed five agreements with financial institutions and counterparties operating in strategic sectors. These agreements aim to support Italian exports in the two countries as well as to strengthen commercial and investment relations.
“This represents a significant step in supporting Italian exports and promoting trade relations with Uzbekistan and Kazakhstan. SACE continues to be a partner for the export and internationalization of Italian companies, offering innovative tools and tailored solutions - stated Alessandra Ricci, CEO of SACE - Our commitment is to foster the growth of Italian enterprises and enhance the global presence of Made in Italy, thereby contributing to the success of companies in key sectors of the global economy.”
The agreements signed and announced include:
Memorandum of Understanding with Samruk Energy: a cooperation agreement aimed at developing and strengthening the commercial relationship between the parties in the energy sector, in relation to Samruk Energy’s investments and projects. The agreement includes export credit insurance programs or other forms of guarantees for Italian companies, including SMEs, for an estimated amount of up to EUR 300 million.
Memorandum of Cooperation with Uzbekinvest: to support commercial opportunities between the Republic of Uzbekistan and the Italian Republic, aimed at safeguarding investments and trade transactions between Italian and Uzbek small and medium-sized enterprises (SMEs) for an amount of up to EUR 50 million. The agreement also provides for the involvement of Italian subcontractors, including SMEs, in projects supported or to be supported by Uzbekinvest.
Memorandum of Understanding between Imagro and Bering Servis: to facilitate mutual collaboration between the parties and the supply of goods and services by Italian SMEs to Bering Servis in strategic sectors as textile manufacturer, with the support of SACE's insurance and financial solutions, for a commitment of up to EUR 0.5 million. The agreement also aims to promote the exchange of information on potential new projects and initiatives of mutual interest.
Memorandum of Understanding with Pietro Fiorentini, Hududgaztaminot JSC and Texnopark: it promotes cooperation between the Parties to evaluate partnerships and develop long-term collaboration and includes the possibility to finance the supply contracts for gas equipment between JSC Hududgazta’minot, Texnopark, and Pietro Fiorentini. Hududgaztaminot jointly with Texnopark intends to modernize the Uzbek gas network, and Pietro Fiorentini has worldwide experience in technologically advanced products and services for the distribution and use of natural gas. The project envisages the replacement of up to 5,000 pressure control, metering and regulation stations (PRMS) of the Uzbek gas distribution company JSC Hududgaztaminot in order to rehabilitate and modernize gas network of Uzbekistan, in particular, low, high and medium pressure gas stations. The project will start from the city of Tashkent. SACE commits to supporting the project with a total amount of 200 million euros.
Memorandum of Understanding with Halyk Bank – Citi: to identify new investment opportunities related to projects involving Italian exporters, leveraging insurance and financial instruments with the support of SACE.