U.K., Brazil Ink Film and TV Co-Production Pact
The bilateral agreement between the two nations will pave the way for producers to apply for tax incentives, public funding and favorable TV production terms.
LONDON -- The U.K. and Brazilian governments have signed a co-production treaty to allow film and television productions from both countries access to tax incentives and public funds.
The terms of the deal were negotiated by the British Film Institute and ANCINE, the national cinema agency of Brazil.
The treaty, signed in Brasilia by Lord Green, is expected to take two years to come into force.
Film and TV projects that qualify under the terms of the treaty will be able to access the benefits of national status in each country.
In Brazil these include tax incentives, all federal public funds and access to favourable TV terms.
For Brazilian project, the U.K. offers qualifying productions access to the film tax relief system and opens doors to apply to the BFI Film Fund, the U.K.’s largest public film fund with a current allocation of £18 million ($29 million) per year to invest in the development, production and completion of feature films.
U.K. culture minister Ed Vaizey said: "The treaty will bring huge benefits to both countries and builds on the strong collaborative relationship across the creative industries that already exists between us."
BFI chief executive Amanda Nevill said: "The UK and Brazil have a history of working together in film and a formal co-production treaty is a natural next step. Film has an important role to play in driving economic growth in the UK and this treaty helps us strengthen those ties with Brazil. We will be working closely with ANCINE to bring filmmakers in both countries closer together to generate real gain and advantage."
Manoel Rangel, director-president of ANCINE, added: "The opportunity to make it easier for our producers to work in closer contact with their British counterparts represents an important step in the consolidation of the Brazilian audiovisual sector as one of the most active and dynamic in its region and the world. We are hoping that this agreement will lead to much future collaboration in the field of film and TV production, in which both Brazilian and British producers are known for their expertise and unique creativity."
The U.K., with government backing, has gone on a quest to foster greater creative collaboration between the U.K. and Brazil.
Recently, at the Rio Content Market in March 2012, PACT and the ABPITV, the trade bodies representing independent producers in the U.K. and Brazil respectively, inked an agreement to promote closer ties between the independent production sectors in both countries.
The U.K. currently has nine such bi-lateral agreements in place with Australia, Canada, France, India, Israel, Jamaica, New Zealand, South Africa and the occupied Palestinian territories.