Cyprus and Brazil have established a joint business and investment council to strengthen economic cooperation and create new opportunities for companies in both countries, following three years of efforts by Invest Cyprus to develop closer ties with the Brazilian market.
The Cyprus–Brazil Business and Investment Council was established through a Memorandum of Understanding (MoU) between Invest Cyprus, the Cyprus Chamber of Commerce and Industry (Keve) and Brazil’s Fecomercio Goias, during the Cyprus – Brazil Business Forum and B2B Networking Event held in Nicosia on Thursday, October 15.
The forum also welcomed the first organised Brazilian business delegation of its kind to visit Cyprus, reflecting Invest Cyprus’ continued efforts to strengthen bilateral investment relations and expand cooperation with the wider Latin American market.
Under the agreement, the new council will provide a permanent platform for investment promotion, business partnerships and institutional cooperation, while helping Brazilian companies gain access to European and Middle Eastern markets through Cyprus.
At the same time, it is expected to open new opportunities for Cypriot businesses seeking to expand into Brazil and Latin America, strengthening commercial links between the two regions.
Welcoming the delegation, Energy, Commerce and Industry Minister Michalis Damianos reaffirmed the government’s commitment to supporting closer economic and investment cooperation between Cyprus and Brazil.
The importance of strengthening these ties was also emphasised by Keve president Stavros Stavrou, who acknowledged the contribution of Invest Cyprus, Cyprus’ Ambassador to Brazil, Vasilios Philippou, and Brazil’s Ambassador to Cyprus, Ana Maria De Souza Bierrenbach, in advancing bilateral relations.
From the Brazilian side, Fecomércio Goiás president Marcelo Baiocchi Carneiro emphasised the favourable timing for closer cooperation, pointing to Cyprus’ strategic advantages as a gateway to Europe and the wider Middle East and North Africa (MENA) region.
He also drew attention to the opportunities available to Cypriot companies looking to establish a stronger presence in Brazil and the broader Latin American market.
Turning to the investment opportunities arising from the agreement, Invest Cyprus chairman Evgenios Evgeniou stressed the importance of transforming institutional cooperation into concrete business partnerships and investment projects.
In this respect, he highlighted Cyprus’ geographical location, European Union membership and developed business ecosystem as important advantages for international investors.
Meanwhile, Invest Cyprus CEO Marios Tannousis outlined the competitive strengths of the Cypriot economy, focusing on the country’s business environment and the investment opportunities available across key sectors.
The agreement follows a series of initiatives aimed at strengthening Cyprus’ presence in the Brazilian market, including cooperation agreements with Invest Parana, Invest Minas, Fecomércio Goias and the Portuguese-Brazilian Chamber of Commerce.
Particular opportunities for further collaboration have been identified in shipping, transport and logistics, technology, financial services, energy and agribusiness, reflecting areas of common business interest between the two countries.
Beyond the institutional discussions, the forum also included targeted business-to-business (B2B) meetings, allowing Cypriot and Brazilian companies to explore potential partnerships and joint investment initiatives.
Invest Cyprus also expressed its appreciation to Fecomércio Goias, the ambassadors and foreign ministries of both countries, and the Keve for their contribution to organising the event.
With the new council now established, the initiative is intended to support long-term investment flows, closer commercial relationships and new business opportunities between Cyprus and Brazil.