Italy and Oman have taken a major step to boost economic relations through a new agreement. The Italy-Oman trade initiative aims to strengthen collaboration in strategic sectors and encourage Italian business participation in Oman.
During Italian Prime Minister Giorgia Meloni’s visit to the Sultanate, Italy’s Export Credit Agency, SACE, signed a Memorandum of Understanding with Khazanah Modern Oman. Khazanah Modern Oman invests in sectors with high potential for Italian companies, including infrastructure, renewable energy, manufacturing, food and beverage, and hospitality.
Michele Pignotti, CEO of SACE, and Azzan Al Wahaibi, Managing Director of Khazanah Modern Oman, finalized the MoU. The agreement provides a framework to support strategic projects in Oman while enabling Italian suppliers, contractors, and technology providers to participate.
SACE will provide financial and risk mitigation solutions to increase project competitiveness. These measures follow thorough due diligence and align with SACE’s institutional mandate.
During his visit, Michele Pignotti met with key Omani companies. He discussed potential projects with energy firm OQ, investment company Ominvest, and logistics provider Asyad Group, identifying opportunities for Italian supply chains.
SACE also explored collaboration with the Oman Social Protection Fund – Investment Unit. Officials plan to finalize another MoU in the coming weeks to involve Italian companies in strategic projects within the Fund’s portfolio.
Experts emphasize that the agreement highlights the strategic value of Italian industrial expertise and advanced technologies. It also strengthens sustainable growth by enabling knowledge transfer and increasing trade flows between the countries.
Officials from Italy and Oman underlined that the Italy Oman trade cooperation will create long-term economic opportunities. They pointed to investments, technology sharing, and infrastructure development as key benefits.
The agreement marks a new phase in Italy-Oman relations. It signals both nations’ commitment to expanding trade, attracting investment, and supporting industrial innovation across sectors.
Italian firms can now access Oman’s market more effectively, while Omani projects can benefit from advanced industrial solutions. This partnership is likely to increase business exchanges and strengthen bilateral trade.
