System missions and facilitation of relation with strategic partners in Russia for Italian companies: these are only a few of the activities covered by the first agreement between SACE SIMEST, export and internationalization hub of the CDP Group, and Confindustria Russia, signed today at the SACE offices in Rome. Objective: increase strategic cooperation to support the export capacity and penetration of Italian companies in the Russian market and bolster the competitiveness of those already operating there.
Under this agreement, SACE SIMEST and Confindustria Russia will combine their know-how to plan missions and initiatives in Italy and Russia to promote relations between Italian firms and potential Russian partners, public and private, with the objective of favoring Italian investments and production facilities, commercial actions, and the participation of Italian companies, singly or jointly, in tenders, trade shows, and international events.
SACE CEO Decio declared: “Today's agreement opens vast opportunities for Italian companies, which registered over € 7 billion in exports to Russia in just the past year. In a context that promises to become increasingly complex, we can truly play an essential role in sustaining the business of Italian firms with dedicated insurance-financial services and system initiatives. We are prepared to make a maximum effort in this direction, always within the international legal context, alongside partners like Confindustria Russia.”
Confindustria Russia President Ferlenghi declared: “The agreement signed today with SACE SIMEST will strengthen the system of our companies interested in the opportunities offered by the Russian market. The network of collaboration existing between Confindustria Russia and the Russian category associations and regions will help bring the support of SACE SIMEST to the Italian companies present throughout the Russian Federation, facilitating an increasing number of initiatives and the demand for expertise and technologies”.
With a portfolio of insured export transactions and guaranteed investments exceeding € 3 billion, Russia is one of the most important markets for SACE SIMEST due to the presence of an office in Moscow since 2006.
Opportunities for Italian companies in Russia
Despite the growing complexity of the Russian market, it is one of the most important destinations for Italy with 748 co-national companies active in the country and over € 7 billion in exports in 2018, ready to grow at an average annual rate of 4.4% in the 2019-2021 period, according to SACE projections.
The principal sectors of opportunity for Made in Italy include capital equipment and industrial technologies, long top performers in Italian exports, which can benefit from a revival in public and private investments favored by a recovery in petroleum prices; the agri-food sector where Italian know-how is highly appreciated for the modernization of production lines; energy, which continues to be a key sector for development of the country's economy; and construction, where various investments are in progress to close the infrastructural gap and to upgrade the peripheral regions; and consumer goods, which remain a showcase for Made in Italy and where high demand and increasing opportunities for investment and local distribution exist, particularly in fashion.