Limassol, Cyprus – October 22, 2024 – In a significant move towards enhancing bilateral trade and investment, Invest Cyprus and Invest Paraná signed a Memorandum of Understanding (MOU) today at the prestigious Commodity Supply Chain Conference 2024, in Limassol, Cyprus, serving as a key platform for global industry leaders to discuss critical trends and opportunities in supply chain management, trade, and investment.

The MOU marks the beginning of a robust alliance between the two investment bodies, focusing on enhancing trade relations, cross-border investment opportunities, and the development of key industries such as technology, manufacturing, and infrastructure. Both parties are committed to leveraging their unique strengths to boost economic growth and attract international investment to their respective regions.

Mr. Marios Tannousis, CEO of Invest Cyprus, and Mr. Eduardo Bekin, President of Invest Paraná, signed the agreement in the presence of Mrs. Panayiota Patsali, the Director of Trade of the Ministry of Energy, Commerce and Industry in Cyprus, Mr. Neemat Frem, Chairman CEO of INDEVCO Group, as well as top executives, business leaders, and government officials from around the world.

The agreement is designed to support knowledge exchange and collaboration, enabling companies from both Cyprus and Paraná to benefit from shared expertise and market access.

Marios Tannousis, CEO of Invest Cyprus, stated:

"This MOU represents a significant milestone in strengthening the economic ties between Cyprus and Paraná. We see tremendous potential in this partnership to unlock new opportunities for businesses and investors, driving innovation and sustainable development in both regions."

Eduardo Bekin, President of Invest Paraná, stated:

"This collaboration is a crucial step towards enhancing the economic landscape of both regions. By joining forces, we aim to foster a climate of growth, create jobs, and promote the exchange of technology and innovation across borders."

Neemat Frem, Chairman CEO of INDEVCO Group, stated:

“We are happy that the Commodity Supply Chain Conference has provided a platform for this exciting and strategic business cooperation between Cyprus and Paraná. The signing of the Memorandum of Understanding (MOU) marks the beginning of a promising collaboration, and an important milestone.”

This MOU also aligns with global trends that emphasize regional cooperation to enhance resilience, sustainability, and inclusive growth. The collaboration will serve as a platform for future joint ventures, facilitating the creation of a dynamic, interconnected business environment.

The signing ceremony took place at the INDEVCO Commodity Supply Chain Conference 2024, which serves as a key platform for global industry leaders to discuss critical trends and opportunities in supply chain management, trade, and investment.

About Invest Paraná

Invest Paraná is the investment promotion agency of the Paraná State Government. It is the gateway for those wishing to invest in the state. As a bridge between government and private initiative, Invest Paraná is a strategic partner for international investors and companies seeking to establish themselves in Paraná, offering a wide range of services and resources to ensure the success of new ventures.

About Invest Cyprus

Invest Cyprus is a non-profit national body dedicated to attracting and facilitating Foreign Direct Investment (FDI) across key economic sectors in Cyprus. Serving as the government's primary partner in establishing the island as a world-class investment destination, Invest Cyprus plays a pivotal role in enhancing the competitive environment of the country.

About the Commodity Supply Chain Conference

The Commodity Supply Chain Conference is an annual event and a strategic gathering for industry leaders, bringing together INDEVCO’s global network of influential decision-makers from across various sectors. It serves as a premier platform for exploring opportunities, fostering collaboration, and discussing sustainable solutions within the supply chain/commodity trading ecosystem.

About INDEVCO Group

Headquartered in Ajaltoun, Lebanon, INDEVCO is a global leader in diversified manufacturing and industrial consultancy services. With over 9,900 dedicated employees of nearly 40 nationalities across the Middle East, Africa, Europe, and the US, we operate 38 manufacturing plants and 38 commercial companies, supplying converting machinery, raw materials, and packaging, as well as consumer and away-from-home disposables, and renewable energy products. Established as a family business, INDEVCO encapsulates a six-decade heritage of diversified manufacturing and industrial consultancy services that drive growth and value creation.