“Our business presence in Cyprus is still developing but there is growing interest in sectors such as defence, aerospace, shipping services, technology, energy and agribusiness-related trade and investment. As connectivity between Brazil and Europe deepens, especially in the context of the EU-Mercosur Agreement, Cyprus can become an increasingly relevant platform for Brazilian companies seeking access to regional markets,” says Ana Maria Bierrenbach, Ambassador of Brazil to Cyprus.
In an interview with GOLD she looks at the developing relationship between her country and the island, highlights the agreements that are driving this new state of affairs, and suggests specific areas where closer connections and mutually beneficial partnerships can be created.
Cyprus and Brazil have had diplomatic ties since the 1960s but they have recently embarked on a journey to deepen economic relations, with recent MoUs being signed between Invest Cyprus and several Brazilian investment organisations. How would you describe the current state of relations between Brazil and Cyprus and what does the future hold?
Brazil and Cyprus enjoy a steadily growing relationship, grounded in dialogue, shared principles, respect for international law, mutual interest and increasing economic complementarity. Diplomatic relations were established in 1966, Cyprus opened its resident embassy in Brasília in 2009 and we opened our resident embassy in Nicosia in 2010. The current moment is one of great optimism, especially in light of the EU-Mercosur Agreement, which entered into force on May 1, connecting our economies and more than 700 million people, with a combined GDP of €18 trillion. This important agreement is expected to boost economic growth, create jobs, promote investment and competitiveness on both sides, and generate opportunities for small, medium and large businesses. The future points to a transition from a solid diplomatic foundation to deeper trade and investment interactions. We are also working together with the Cyprus Ministries of Finance and Foreign Affairs to reach an agreement on the avoidance of double taxation, which could be very helpful in that regard. The recent Memoranda of Understanding between Invest Cyprus and Brazilian investment organisations, such as Invest Minas, Invest Paraná and Fecomércio-Goiás, are important steps towards transforming goodwill into concrete action.
Which sectors in Cyprus do you believe are most attractive to Brazilian investors? Could we see more connections between Brazilian and Cypriot innovation hubs and the two countries’ start-up ecosystems?
Cyprus is strategically positioned as a gateway to Europe, the Eastern Mediterranean and the Middle East. It has developed strong capabilities in sectors such as shipping, logistics, financial services, technology, higher education, tourism and energy. In addition, the country has built a dynamic innovation ecosystem. Brazil, in turn, offers scale, industrial capacity, natural resources and a dynamic consumer market. We have a vibrant entrepreneurial environment and considerable expertise in scaling solutions for large markets, while Cyprus offers strategic access to European networks and regulatory frameworks. Brazilian investors and entrepreneurs are paying increasing attention to innovation-driven partnerships, particularly in areas such as digital transformation, fintech, agritech, energy technologies and infrastructure solutions. We see significant potential for deeper cooperation in sectors including defence, aerospace, technology, logistics, shipping, energy, tourism and financial services. There is also strong potential for cooperation between Brazilian and Cypriot universities and innovation hubs. Even in the gaming industry, I see opportunities for interesting partnerships.
Brazil is also a major player in energy, including renewables. Do you see opportunities for partnerships with Cyprus in this field? Could Brazilian expertise in large-scale infrastructure projects be leveraged in Cyprus or the broader region?
Absolutely. Brazil is one of the global leaders in renewable energy and has extensive expertise in biofuels, hydroelectricity, wind and solar energy, as well as in large-scale infrastructure development. The global energy transition is creating new opportunities for cooperation and, in this regard, Cyprus is strategically positioned. The Eastern Mediterranean is a region where energy connectivity and diversification are becoming increasingly important. Brazilian companies and institutions could contribute with technical expertise, engineering capacity and experience in complex infrastructure projects. There is also room for collaboration in sustainable energy solutions and innovation linked to critical minerals and the energy transition.
Do any Brazilian companies have an active presence in Cyprus? Are there any companies planning an expansion in the Cypriot market?
Our business presence in Cyprus is still developing but there is growing interest in sectors such as defence, aerospace, shipping services, technology, energy and agribusiness-related trade and investment. As connectivity between Brazil and Europe deepens, especially in the context of the EU-Mercosur Agreement, Cyprus can become an increasingly relevant platform for Brazilian companies seeking access to regional markets. The recent bilateral instruments between investment agencies can also help create favourable conditions for trade and investment.
Currently, we are seeking to encourage this flow in both directions, while also promoting the internationalisation of Brazilian capital and encouraging companies to consider Cyprus as a hub and gateway to the European Union and the Middle East.
As a part of the BRICS group of emerging economies, what do you wish to see from expanding economic relations with the EU and how does Cyprus fit into this framework?
BRICS is a platform that represents around 56% of the world’s population and 44% of global GDP. Its members also account for approximately 43% of global oil production and 36% of gas production. We regard BRICS as an important platform for economic cooperation and political dialogue. We strongly believe in the advantages of engaging across multiple platforms and seeking convergent views and common ground with a broad range of partners. We see no contradiction between active participation in BRICS and deeper economic and political engagement with the European Union. On the contrary, our involvement in both reflects our commitment to open dialogue, diversified partnerships, stronger multilateralism and a more just and balanced global governance. During Brazil’s BRICS presidency in 2025, we emphasised sustainable development, inclusive cooperation and the strengthening of economic ties. The EU-Mercosur Agreement also points in that direction. Cyprus can play an important role as a trusted EU member state, particularly given its strong commitment to international law and multilateralism.
The present global situation has affected all countries and many economic sectors. How do you view current tensions and what can be done to overcome future obstacles?
The international environment today is marked by geopolitical tensions, economic uncertainty and major transformations related to technology, energy and supply chains. Countries need to strengthen mechanisms that promote stability, connectivity and mutual trust. In moments like these, promoting dialogue and upholding international law and multilateralism become even more important. We strongly believe that multilateral institutions deserve a renewed opportunity and the best way to achieve this is through reforms that make them more representative and democratic. At the same time, the current global transition also presents opportunities. Countries that can combine innovation, sustainability, food security, energy capacity and strategic resources will have comparative advantages. We believe that Brazil is well-placed to play a role in these areas.
Efforts aimed at reuniting Cyprus have been going on for almost 51 years now. How do you believe the two communities can be brought together to agree on a settlement?
Brazil has always valued peaceful, negotiated solutions to international disputes. On Cyprus, our view is that progress must come through dialogue, confidence-building and a comprehensive settlement reached under the auspices of the United Nations, in line with the relevant UN Security Council resolutions. The objective should be a mutually acceptable solution that allows both communities to live together in peace, dignity and security. Brazil has a long history of contributing to peace in Cyprus, including its participation in the United Nations Peacekeeping Force (UNFICYP). General Carlos Flores Paiva Chaves contributed to the establishment of the mission, and Ambassador Carlos Alfredo Bernardes has served as the UN Special Representative. Brazil currently contributes two military officers to the Argentine contingent.
Finally, how has your time in Cyprus been so far? Has anything made a particularly strong impression on you?
I have been a career diplomat for more than 30 years but Cyprus is my first posting as Ambassador. My experience so far has been extremely positive. Cyprus combines a rich historical heritage (one of my personal interests) with a dynamic and modern outlook. What has impressed me most is the warmth of the people, the country’s strategic vision and its remarkable ability to connect cultures and regions. I also see many similarities between Brazilians and Cypriots in terms of openness, hospitality and appreciation for human relationships. These are, in my view, the best possible foundations for stronger bilateral ties.
This interview first appeared in the June edition of GOLD magazine. Click here to view it.
