SACE and EFA sign Memorandum of Understanding to strengthen Italy-Australia trade relationship

SYDNEY, AUSTRALIA, October 26, 2026 - Export Finance Australia (EFA), Australia’s trade and strategic finance agency, and SACE S.p.A. (SACE), the Italian Export Credit Agency owned by the Ministry of Economy and Finance, have signed a Memorandum of Understanding (MoU) to strengthen cooperation and support trade and investment between Australia and Italy.

Recognising the complementary strengths Australia and Italy bring across the critical minerals value chain, the sector is a key focus of cooperation under the MoU. The Memorandum was signed alongside a meeting of international critical minerals financiers convened by EFA in Sydney.

In 2024, Australia’s goods and services trade with Italy was valued at $12.37 billion (up from $9 billion in 2021). Total stock of investment between Italy and Australia was valued at $19.8 billion.

“Australia and Italy bring complementary strengths across sectors that are central to long-term economic security,” Mr Hopkins said. “This agreement creates a practical pathway for EFA and SACE to connect Italian and Australian businesses, identify projects and consider coordinated support where our mandates align.”

“This agreement represents an important step in strengthening the strategic partnership between Italy and Australia and opening up new opportunities for our businesses,” said Guglielmo Picchi, Chairman of SACE. “By combining the expertise and financial instruments of our two institutions, we aim to foster closer industrial cooperation and facilitate new trade and investment opportunities, particularly in strategic sectors. Through this partnership, SACE reaffirms its commitment to supporting Italian companies in expanding their international presence and strengthening their role in global supply chains.”