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The agreement "A Bridge to Russia" signed in Trieste

UniCredit and ZAO UniCredit Bank Russia with Finest and SIMEST

to support the commercial growth and competitiveness

 of Italian businesses in Russia



Italian businesses, which are increasingly interested in extending their activity into the Russian market, will have new strategic consultancy, institutional and operational services at their disposal thanks to the agreement "A Bridge to Russia", signed today during the Italo-Russian Forum in Trieste.


The agreement provides for collaboration of UniCredit and its Russian subsidiary ZAO UniCredit Bank Russia with Finest SpA (financial company for the promotion of economic partnership with Eastern European countries) and SIMEST SpA (company for Italian foreign investment).


The objective agreed upon by Federico Ghizzoni, UniCredit Chief Executive Officer, Mikhail Alekseev, ZAO UniCredit Bank Russia Chief Executive Officer, Eros Goi, Finest Director and Massimo D'Aiuto, SIMEST Chief Executive Officer, is to respond to the new and growing need of Italian businesses to invest, operate and compete as effectively as possible in member countries of the Russian Federation. 


The agreement was signed in the presence of the Italian Prime Minister Enrico Letta and the Russian Head of State Vladimir Putin and will commit the parties, each respecting its own institutional duties and corporate mission, to pool advice, products and services, to the advantage of Italian businesses.


"I am really happy to be able to announce today, in the context of the Italo-Russian Business Forum and alongside the Intergovernmental Summit of the two countries, the signing of this important cooperative agreement - said Federico Ghizzoni, Chief Executive Officer of UniCredit - which aims to further strengthen the already close collaboration of our institutions in facilitating and supporting Italian businesses, particularly regarding small and medium-sized enterprises that want to invest, operate and compete as effectively as possible in the Russian Federation. From initial estimates, with this agreement we believe that in the next 24/36 months we can attract more than 500 Italian businesses interested in investments and structured commercial operations in the country" - Ghizzoni added.


"Russia has always been an important destination for Italian businesses which, with the support of SIMEST, have implemented numerous projects in major industries such as electrical engineering/engineering, food and agriculture, services and wood/furniture - said Massimo D'Aiuto Chief Executive Officer of SIMEST. As of today, in fact, between investments and loans, we have implemented 365 projects for more than 3.3 billion euro, a large part of which consisted of supporting credits for the export of Italian plant and machinery. With this agreement, therefore, given the great capacity of the Russian Federation to absorb significant Italian export flows of goods for investment and consumption, and also the opportunities it offers to Italian businesses in terms of production investments, volumes achieved so far can be doubled in the medium term".


"The Russian market, the nearest of the BRIC markets, holds incredible potential for our companies, both for export operations, and for direct investments, with a view to making where you sell - said Mauro Del Savio, Chairman of Finest. In Russia, companies from the Italian Triveneto area [Regions of Veneto, Trentino-Alto Adige and Friuli-Venezia Giulia] in particular, owing to the sectors in which their production specialises, can find the international growth opportunities which are necessary to increase their competitiveness on foreign markets. Thanks to this agreement, these opportunities become more concrete and achievable also for SMEs, a typical feature of our production landscape. This allows use, in an integrated manner, of the financial instruments, subsidised finance opportunities and qualified know-how of Finest, SIMEST and UniCredit".




Trieste, 26 November 2013