Cyprus and Brazil sign agreement to boost bilateral investment opportunities
Cyprus investment promotion agency, commonly referred to as Invest Cyprus, on Thursday announced the signing of a memorandum of understanding (MoU) with Invest Paraná, the investment promotion agency of the Paraná state in Brazil.
The agreement was signed at the Commodity Supply Chain Conference 2024, which took place from October 22-24 at the Grand Resort Hotel in Limassol.
“The conference, organised by Indevco Group, was held under the auspices of the president of the Republic of Cyprus Nikos Christodoulides, and attracted key leaders from financial institutions, government bodies, and regulatory authorities to discuss the future of the global commodity supply chain,” the agency said in an announcement.
During the event, the representative of the Minister of Energy, Commerce, Industry, and Director of Trade Services Panayiota Patsali welcomed the guests in Cyprus.
Moreover, Patsali gave a speech highlighting Cyprus’ policies for further enhancing the global commodity supply chain. Chief Scientist Demetris Skourides also participated in the event.
Meanwhile, Marios Tannousis, CEO of Invest Cyprus, presented the country’s attractive investment opportunities, particularly in the shipping and supply chain sectors.
The announcement noted that Tannousis’ presentation focused on “Cyprus’ strategic location, world-class infrastructure, and its growing role as a global logistics hub”.
Following the presentation, Tannousis on behalf of Invest Cyprus, signed the MoU with Invest Paraná, describing the organisation as “one of Brazil’s leading investment promotion agencies”.
“This strategic agreement marks the first-ever formal economic cooperation between Cyprus and Brazil, opening up new bilateral investment opportunities,” the agency said.
Invest Cyprus also said that the MoU paves the way for enhanced collaboration in areas such as supply chain, shipping, and logistics, tech, healthcare, further solidifying Cyprus’ position as a key player in the global economy.
“As a result of the new MoU with Invest Paraná”, the announcement continued, “Invest Cyprus is confident that this partnership will stimulate increased investment flows and foster greater cooperation between the two countries”.
“We are delighted to enter into this significant partnership with Invest Paraná. This MoU not only strengthens the economic ties between Cyprus and Brazil but also creates new opportunities for growth and development in critical sectors such as supply chain and logistics,” Tannousis said.
“We look forward to working closely with our Brazilian counterparts to create meaningful economic impact for both our countries,” he added.
From the Brazilian side, the Director of International Relations of Invest Parana, Giancarlo Rocco stated that “this collaboration with Invest Cyprus is a testament to our commitment to fostering international partnerships that drive economic growth and innovation”.
“Paraná, as a world-leading food producer with a robust agricultural sector, offers immense potential for collaboration across economic sectors,” he added.
Rocco also said that “by joining forces, we aim to leverage our combined strengths to unlock new opportunities in the global market”.