Nicosia:New opportunities for enhancing trade and investment relations between Cyprus and Brazil have emerged with the signing of a Memorandum of Understanding (MoU). This MoU involves the Cyprus Chamber of Commerce and Industry (CCCI), Invest Cyprus, and the Federation of Commerce, Services and Tourism of the Brazilian State of Goiás (Fecomércio Goiás). The agreement establishes a Cyprus-Brazil Joint Business and Investment Council.

According to Cyprus News Agency, the signing ceremony was part of the Cyprus-Brazil Business Forum, hosted by the CCCI in Nicosia. The event brought together government officials, diplomatic representatives, and business leaders from both nations. The newly formed Council aims to facilitate business cooperation, access to new markets, and promote joint trade and investment initiatives.

The President of the CCCI, Mr. Stavros Stavrou, emphasized the significance of supporting the international expansion of Cypriot businesses and fostering partnerships with global business communities. He identified areas such as food and beverages, retail, footwear, logistics, environmental consulting, and professional services as potential fields for cooperation.

Mr. Michael Damianos, the Minister of Energy, Commerce and Industry, noted Cyprus's strategic position as a gateway for Brazilian companies to the European market and the Eastern Mediterranean. He highlighted the scope for collaboration in shipping, tourism, technology, innovation, and the green economy, with Cyprus' exports of services to Brazil amounting to approximately £79 million in 2025.

Brazil's Ambassador to Cyprus, H.E. Ms. Ana Maria de Souza Bierrenbach, stressed the importance of strengthening economic ties amidst global uncertainty. She mentioned the complementary strengths of both economies and the opportunities from closer EU-Mercosur relations.

The Forum featured a video message from the Ambassador of Cyprus to Brazil, H.E. Dr. Vasilios Philippou, discussing the prospects for enhancing bilateral economic and trade relations. Mr. Marcelo Baiocchi Carneiro, President of Fecomércio Goiás, and Mr. Marios Tannousis, CEO of Invest Cyprus, also presented insights into business opportunities and Cyprus' advantages as a business destination.

A delegation of 22 business owners and institutional representatives from Goiás visited Cyprus, focusing on innovation, technology, investment, and tourism. The Forum concluded with business-to-business networking meetings, enabling Cypriot and Brazilian companies to explore potential partnerships. CCCI remains committed to expanding international business cooperation and investment opportunities.