Invest Cyprus, the Cyprus Chamber of Commerce and Industry (CCCI) and the Brazilian organisation Fecomércio Goiás are establishing a Cyprus–Brazil Business and Investment Council following the signing of a Memorandum of Understanding. The aim is to boost investment and develop business partnerships between the two countries.
The agreement was reached during the Cyprus–Brazil Business Forum & B2B Networking Event, held in Nicosia on October 15 with institutional representatives and businesspeople from Cyprus and Brazil, according to an announcement by Invest Cyprus.
The event coincided with the first organised business delegation from Brazil to Cyprus. Invest Cyprus described it as a significant milestone in the organisation’s efforts over the past three years to strengthen investment ties with Brazil and expand cooperation with Latin America.
Promoting investment
The Council aims to serve as a permanent mechanism for promoting investment, developing business partnerships and strengthening institutional ties. It will also facilitate Brazilian companies’ access to European and Middle Eastern markets through Cyprus, while creating corresponding opportunities for Cypriot businesses interested in operating in Brazil and across Latin America.
Energy, Commerce and Industry Minister Michalis Damianou welcomed the Brazilian delegation and reaffirmed the Government’s support for further developing business and investment cooperation between the two countries.
CCCI President Stavros Stavrou welcomed the delegation’s visit and acknowledged the contribution of Invest Cyprus, Cyprus Ambassador to Brazil Dr Vassilios Philippou, and Brazil’s Ambassador to Cyprus, Ana Maria De Souza Bierrenbach, to advancing bilateral relations.
Fecomércio Goiás President Marcelo Baiocchi Carneiro said current conditions offer significant prospects for closer cooperation. He highlighted the strategic advantages Cyprus provides to Brazilian businesses seeking access to Europe and the wider Middle East and North Africa region, as well as the opportunities Brazil offers for Cypriot businesses looking to expand into Latin America.
Cooperation agreements
Invest Cyprus President Eugenios Eugenίου stressed the importance of turning institutional partnerships into concrete business and investment opportunities. He cited Cyprus’s strategic geographical position, its membership of the European Union and its developed business ecosystem as key advantages for international investors. The organisation’s Chief Executive Officer, Marios Tannousis, presented the competitive advantages of the Cypriot economy, its favourable business environment and investment opportunities in key sectors.
The initiative is part of Invest Cyprus’s strategic approach to the Brazilian market, which includes cooperation agreements with Invest Paraná, Invest Minas and Fecomércio Goiás, as well as the Portuguese-Brazilian Chamber of Commerce. Sectors with significant potential for cooperation include shipping, transport and logistics, technology, financial services, energy and agrifood.
The Forum also included targeted business-to-business (B2B) meetings, giving companies from both countries the opportunity to explore cooperation and joint investment initiatives. Invest Cyprus thanked Fecomércio Goiás, the ambassadors, the foreign ministries of Cyprus and Brazil, and the CCCI for their contribution to the successful organisation of the event.
According to the organisation, the establishment of the Council creates the conditions for a long-term increase in investment flows, new business partnerships and deeper economic relations between Cyprus and Brazil.
Source: CNA
