OZBEKINVEST, one of the top three non-life insurance companies in Uzbekistan, and SACE have reached an agreement to provide insurance coverage for raw material processing projects utilizing Italian technologies. According to the insurer, joint protection mechanisms will help exporters minimize risks and strengthen trade ties between the two countries.

At the international agribusiness forum held in Tashkent from March 23 to 24 in the "Italy – Central Asia – Azerbaijan" format, the management of OZBEKINVEST met with Guglielmo Picchi, President of Italy’s export credit agency.

It is noted that an agreement was reached to continue dialogue and develop specific directions for cooperation between OZBEKINVEST and SACE. Furthermore, the parties agreed to jointly insure projects aimed at establishing modern facilities for processing agricultural products and other raw materials—initiatives designed to boost export potential, meet domestic market demand, and create new jobs through application of advanced Italian technologies.

The parties also discussed prospects for expanding bilateral cooperation, with a focus on broadening support for national exporters, strengthening trade and economic ties, and stimulating mutual trade between Uzbekistan and Italy.

According to the press release, by the end of 2025, OZBEKINVEST Export-Import Insurance Company had provided comprehensive insurance protection for national exporters against political and commercial risks, covering a total value of over USD 3.3 billion, which represents 34% of the Uzbekistan’s non-commodity exports.