- A Memorandum of Understanding (MoU) has been signed between the Cook Labor Government and Italy's Servizi Assicurativi del Commercio Estero (SACE)
- SACE is Italy's export credit agency which supports Italian companies through financing, insurance and guarantee products
- Agreement will explore opportunities to support major projects in Western Australia, particularly critical minerals, the energy transition, and advanced manufacturing
- Cook Labor Government committed to diversifying the economy and creating jobs
The Cook Labor Government has formalised its co-operation with Italy's export credit agency Servizi Assicurativi del Commercio Estero (SACE) through the signing of a Memorandum of Understanding (MoU).
SACE is owned by the Italian Ministry of Economy and Finance with offices located in Rome, the nation's capital city.
The MoU aims to encourage further co-operation between Western Australian and Italian companies, fostering new trade and investment opportunities for Western Australian and Italian businesses, and supporting co-operation across the critical minerals value chain, from exploration and mining to processing, refining, manufacturing, and recycling.
The MoU covers areas of mutual interest, including the exchange of market information.
Last financial year Western Australia and Italy had a two-way trade valued at $1 billion.
WA companies currently operating in Italy feature in mining, defence industries, energy, construction, and technology sectors.
As stated by Premier and Tourism, Trade and Investment Minister Roger Cook:
"My government is committed to keeping WA strong by diversifying the economy and creating great jobs for Western Australians.
"As demand for critical minerals continues to grow worldwide, Western Australia remains focused on developing secure, resilient, and sustainable supply chains worldwide.
"Western Australia is uniquely positioned to play a leading role in the global energy transition, and international partnerships such as this with SACE are critical to supporting that ambition.
"This Memorandum of Understanding reflects my government's commitment to building strong international partnerships that support the growth of critical minerals and energy transition industries."
As stated by Mines, Petroleum and Exploration Minister Daniel Pastorelli:
"This comes off the back of the recent joint communique signing and meeting I held with the SACE.
"It's pleasing our strong international partnerships have enabled us to unlock more opportunities in critical minerals and battery industries, delivering benefits for the economy.
"Western Australia is a world leader in resources, and the sector continues to power jobs and the economy and our strength and reputation is attracting more global investment."
