The Russian market is “increasingly strategic for Italian companies, which Sace and Simest will not lack their support. New projects worth € 2,5 billion are being studied ". This was stated by Alessandro Decio, CEO of Sace, during the Vtb Capital Investment Forum “Russia Calling!”, As reported by the two companies. "A guaranteed support even in the last years of recession, always in full compliance with the international regulatory framework, rewarded by the turnaround recorded in the first 8 months of 2017, in which Italian sales in Russia grew by 23% to 5,2 billions of euros ", explain Sace and Simest, after Italian exports in 2016 amounted to 6,7 billion euros (-5,3% on 2015). "A growth mainly attributable to a rebound effect (which will diminish in the coming months) and to the economic recovery of Russia", is explained in the note, specifying that the sectors that recorded a consistent change were those of instrumental mechanics, equipment electrical, food and beverage and pharmaceuticals. However, cautions remain. "The evolution of the sanctioning framework will be relevant to understand the impact on Italian exports, especially in light of the recent provision signed by Trump (not yet in force) which also includes consequences for non-American operators", underline Sace and Simest . Sace and Simest are two Italian financial companies that have the task of facilitating the internationalization of companies, especially small and medium-sized ones. SACE is an insurance-financial group active in the field of export credit, investment protection, financial guarantees, sureties and factoring. The company is totally controlled by the Ministry of Economy and Finance; SIMEST has among its main activities the participation in the capital of foreign companies set up by Italian companies within the European Union including Italy.
