Invest Cyprus has signed a memorandum of understanding with the Portuguese-Brazilian Chamber of Commerce, in a move aimed at strengthening investment cooperation, business synergies and access to strategic markets linking Latin America, Europe and the Middle East.

The agreement was signed during the event ‘From Brazil to Europe & MENA: Unlocking Business & Investment Opportunities through Portugal and Cyprus’, held on April 28, at WTC Lisbon. 

The event brought together business leaders, investors, policymakers and representatives of the innovation ecosystem, with discussions focusing on new strategic routes connecting Brazil, Portugal, Cyprus, Europe and the MENA region. 

According to Invest Cyprus, the MoU marks a new chapter in business and investment relations between Brazil, Portugal and Cyprus, creating a framework for cooperation in investment promotion, economic development, business partnerships and stronger regional connectivity. 

The initiative forms part of Invest Cyprus’ wider outreach strategy towards Latin America, which began in September 2023 with the signing of its first investment cooperation agreements with organisations including Invest Parana, Invest Minas and Fecomercio Goias. 

Since then, more than five investment missions have visited Cyprus, with part of the investment activity already implemented and further opportunities currently under discussion. 

Invest Cyprus CEO Marios Tannousis also took part in the panel discussion ‘Connecting Brazil to Europe and MENA: A Strategic Path via Portugal & Cyprus’, which examined cooperation in investment, mobility, entrepreneurship, innovation and sustainable international expansion. 

“Through this initiative, we are opening a new channel of cooperation between Cyprus, Portugal and Brazil, with clear prospects for connecting businesses, investors and innovation ecosystems in Europe, Latin America and the Middle East,” Tannousis said. 

He added that Cyprus can play a strategic role as a reliable business base within the EU and as a gateway to the wider region, while Invest Cyprus remains committed to building partnerships that create practical opportunities for investment, entrepreneurship and long-term economic growth. 

The event was also attended by Cyprus’ Ambassador to Portugal Elpidoforos Economou, as well as other speakers including Luciano Menezes, Antonis Georgakis, Otacilio Soares and Marielle Burti. 

A special contribution was made by Chief Scientist for Research, Innovation and Technology Demetris Skourides, who referred to the role of innovation, technology, artificial intelligence, fintech and cross-border cooperation in shaping international partnerships. 

Skourides said entrepreneurs and innovators can now ‘Design in Brazil, conduct R&D in Cyprus, and Build in Portugal’, describing the model as a way to create added value in the innovation economy. 

He also said innovative companies from Latin America seeking to expand into the EU, the Gulf Cooperation Council and India can use Cyprus and Portugal as part of that growth path. 

At the same time, he described the Brazil-Portugal-Cyprus bridge as another important gateway in President Nikos Christodoulides’ economic diversification strategy, alongside the United States, the GCC and India. 

This, he said, creates strategic options for Cyprus as the country moves towards a knowledge and innovation economy. 

Invest Cyprus thanked the co-organisers and partners of the event, including the Portuguese-Brazilian Chamber of Commerce and WTC Lisbon, as well as those who supported the initiative. 

It also expressed special thanks to Cyprus’ Ambassador to Brazil Vasilios Filippou, Brazil’s Ambassador to Cyprus Ana-Maria Bierenbach and Brazil’s Ambassador to Portugal Raimundo Carreiro Silva. 

The event, Invest Cyprus said, was an important step towards strengthening strategic cooperation between Brazil, Portugal and Cyprus, while opening the way for new business, investment and innovation-focused partnerships.