Nicosia:The creation of a Cyprus-Brazil Business and Investment Council aims to enhance investment flows and foster business partnerships between Cyprus and Brazil. This follows the signing of a Memorandum of Understanding (MoU) involving Invest Cyprus, the Cyprus Chamber of Commerce and Industry (CCCI), and Brazil's Fecomércio Goiás.

According to Cyprus News Agency, the agreement was formalized during the Cyprus-Brazil Business Forum and B2B Networking Event held in Nicosia. This event brought together institutional representatives and business leaders from both nations.

The newly established Council is set to act as a permanent platform to promote investments and develop business partnerships, facilitating Brazilian companies' access to European and Middle Eastern markets via Cyprus. It also aims to create opportunities for Cypriot businesses seeking to venture into Brazil and the broader Latin American market.

Cyprus' Minister of Energy, Commerce and Industry, Michalis Damianos, welcomed the Brazilian delegation and reiterated the government's commitment to enhancing business and investment ties. CCCI President Stavros Stavrou also acknowledged the cooperation of various stakeholders, including the ambassadors of both countries, in strengthening bilateral relations.

Fecomércio Goiás President Marcelo Baiocchi Carneiro emphasized the strategic advantages Cyprus offers Brazilian firms, such as access to Europe and the MENA region, while highlighting opportunities for Cypriot businesses in Latin America. Invest Cyprus Chairman Evgenios Evgeniou and CEO Marios Tannousis outlined the benefits of Cyprus' strategic location, EU membership, and robust business environment for international investors.

The forum also featured targeted B2B meetings, providing companies from both countries with opportunities to explore potential collaborations. Invest Cyprus expressed gratitude to Fecomércio Goiás, the ambassadors, and the ministries of foreign affairs of both nations for their support in organizing the event.