YEREVAN. – Insurance of exporters from Italy is functioning in Armenia, deputy head of Italian mission in Armenia Maurizio Krochatelli told Armenian News-NEWS.am.

He was one of the participants of the presentation of HSBC Trade Finance Academ, dedicated to trade finance.

A number of Italian exporters in Armenia have already taken advantage of insurance instruments for exporters' contracts that are provided by SACE state agency.

“These tools aim to guarantee that the export will be paid. If an importer, for whatever reason, can not pay for the transaction, the exporter receives insurance. It is important to provide the opportunity for our companies: it makes them more reliable partners, including in Armenia,” the diplomat added.

Italy is among the ten largest trading partners of Armenia (fourth among EU countries). By the end of 2013, trade with Italy made 3.2 percent of the total foreign trade turnover of Armenia. In comparison with 2012, it rose by 6.4 percent to about $187.8 million.