UK signs film and TV co-production treaty with rising power Brazil.
The UK and Brazilian governments have signed a co-production treaty, with the terms negotiated by the UK’s BFI and ANCINE, the National Cinema Agency of Brazil.
Film and TV productions that qualify under the terms of the treaty will gain national status in each country.
Productions will be able to access Brazil’s tax incentives, all federal public funds and access to favourable TV terms, while in the UK qualifying productions will be able to access the UK’s Film Tax Relief and apply to the BFI Film Fund, which has a current allocation of £18m per year for film development, production and completion. This is set to increase to £24m by 2017, in line with the BFI’s five year plan for film, which it launches in October.
The treaty is expected to take two years to come into force.
Amanda Nevill,chief executive of the BFI, 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.”
London recently hosted the Rio Content Market in March 2012, where PACT and the ABPITV, the trade bodies representing independent producers in the UK and Brazil respectively, signed an agreement to promote closer ties between the independent production sectors in both countries.