Italy, Sace to Boost its Presence in Asia Pacific

Celebrating its three-year long presence in Hong Kong, SACE, Italy’s provider of credit insurance, investment protection and contractual guarantees to cover political and commercial risk, has reaffirmed its strategic support to South and Eastern Asia.
During the luncheon “Driving your ambitions in Asia Pacific” hosted in Hong Kong, SACE highlighted the role that an export credit agency can play, especially post the recent financial turmoil, to an audience of entrepreneurs, financial operators and institutions .
Speaking about Asian markets’ opportunities, Mr. Raoul Ascari, Chief Operating Officer of SACE, said: “Asia is a key growth area, as well as our expectation that the recovery process will generate new opportunities for Asian and Italian companies in the months to come”.
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According to last figures, with an exposure of €1.4bn in the area, SACE has maintained its ongoing commitment to fostering business opportunities between Asia and Italy. Last year, Italian exports to Asia accounted for €22.3bn, consisting mainly of engineering, machinery, electronics, chemicals, leather products and metal goods, while Asian exports to Italy totalled €40bn.
India is currently SACE’s largest market in Asia (61.2% of the company’s exposure in the area), followed by South Korea (8.6%), Vietnam (8.2%) and China (6.7%).
Commenting on Asia’s growth potential, Ms. Michal Ron, SACE’s Head of International Relations and Network, said: “The presence of a large number of emerging economies and economic giants, notwithstanding the difficult conditions prevailing in the global economy, will lead to new areas of collaboration and increased demand for credit support requirements. Our attention will be focused on China, India, Indonesia and Vietnam as these markets represent appealing destinations for investment”.

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