Invest Cyprus announced the signing of a landmark Memorandum of Understanding (MoU) with Invest Paraná, Brazil, marking the first-ever formal economic cooperation between Cyprus and Brazil, opening up new bilateral investment opportunities.

In a press release issued on Thursday, Invest Cyprus said the MoU was signed during the Commodity Supply Chain Conference 2024, which took place from October 22nd to 24th at the Grand Resort Hotel in Limassol, organized by INDEVCO Group, under the auspices of the President of the Republic of Cyprus Nikos Christodoulides.

During the conference, Marios Tannousis, CEO of Invest Cyprus, presented the country’s attractive investment opportunities, particularly in the shipping and supply chain sectors, emphasizing 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 of a historic MoU with Invest Paraná, 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,” Invest Cyprus said, noting 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, Invest Cyprus is confident that this partnership will stimulate increased investment flows and foster greater cooperation between the two countries, the press release said.

“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. We look forward to working closely with our Brazilian counterparts to create meaningful economic impact for both our countries,” Tannousis stated.

From the Brazilian side, the Director of International Relations if Invest Parana, Mr. 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. By joining forces, we aim to leverage our combined strengths to unlock new opportunities in the global market,” he concluded.

Invest Cyprus expressed its gratitude to INDEVCO Group for organizing such an impactful event and providing the opportunity to present Cyprus as a prime destination for investment in the supply chain and shipping industries.

Furthermore, Invest Cyprus also extended its sincere appreciation to all parties involved in the successful conclusion of the Memorandum of Understanding. Special recognition is due to the Ministries of Finance and Foreign Affairs of both countries, as well as the Cyprus Ambassador to Brazil, Mr. Vasilis Philippou, and the Brazilian Ambassador to Cyprus, whose contributions were instrumental in reaching this significant milestone.