This Etude represents just one of his many technical studies written for the guitar and belongs to his most popular magnum opus - 25 Etudes, Op. 60. I believe that this study focuses on several techniques:
1. Developing tremolo with P, a, m, i but also trying P, i, m, a & more unusually P, i, m, i (alla Ana Vidovic)
2. Switching between different arpeggio patterns quickly and fluidly
3. Rapid alternation between P & i, P & m, or P & a
Other techniques that can be applied are:
4. Crescendo and diminuendo
5. Changing timbre from sul tasto through naturale and on to ponticello
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