Risky markets, measures to support made in Italy products
SACE, SIMEST, and the Italian Trade Agency (ICE) have developed a package of measures to support Italian companies operating in the areas most exposed to geopolitical tensions. This support takes on different forms
To get a complete assessment, it is worth mentioning the measures announced on March 31st by the Ministry of Foreign Affairs and International Cooperation (MAECI), developed through a package of interventions by SACE, SIMEST, and the Italian Trade Agency (ICE), specifically to support Italian companies operating in the international markets most affected by recent geopolitical tensions. These are SACE interventions designed to maintain and expand support for companies operating in the countries most exposed to the effects of conflict, including Saudi Arabia, Bahrain, the United Arab Emirates, Iraq, Kuwait, Oman, and Qatar. These measures include tools already available under ordinary operations: insurance coverage for supply contracts against commercial and political risks, including interruption or cancellation of orders and non-payment; protection of investments abroad and temporarily exported assets against the risks of destruction, confiscation, expropriation, and restrictions on capital repatriation; and coverage against the improper enforcement of surety bonds. ICE has introduced extraordinary measures aimed at Italian companies operating in the markets of 17 countries, including the Middle East and surrounding areas. The total budget is EUR 8.6 million and the measure is valid until September 30th.
The measures, intended for businesses in all sectors, operating at least since 2023, include free access to events and trade fairs, covering the first exhibition module, and participation in seminars, workshops, and missions; free participation in digital trade fairs and use of international partner e-commerce platforms (including Fiera Smart 365); and access to the ICE Agency's "Per Crescere" services, free of charge for basic assistance, also extended to businesses with more than 100 employees.
The framework outlined allows us to make some considerations specifically regarding the identification of new non-EU markets. The geopolitical landscape has made the sanctions system even more complex and extensive, and precisely because of their role as a lever for foreign policy, they are subject to constant updates (on the sanctioned entities, on restrictions on trade in goods and services, and on logistics). This requires companies to give particular importance to the issue starting from the selection phase of potential new markets to avoid wasting time and resources on countries heavily subject to sanctions or where there is a concrete risk that they may be subject to further restrictive measures. There is nevertheless a need to set up an internal sanction due diligence system (which communicates with the competent authorities, banks, and the company's lawyers) within the company, especially if the company intends to operate in non-sanctioned but high-risk markets, for example due to geographic proximity or strong relations with the sanctioned country. This is a significant situation, given that it concerns many countries with strong relations with Italy. Shortening the supply chain and focusing on markets with which Italy has trade policy agreements reduces both the risk of sanctions and financial risk. In this sense, participating in the Italian system's initiatives offers great added value, especially for SMEs with limited experience outside the EU or with only one foreign client.
