Brazil and the UK have agreed a coproduction treaty that will pave the way for new television and film collaborations between the two countries.
Both governments signed the agreement yesterday following discussions between the British Film Institute and ANCINE, Brazil’s National Cinema Agency.
Television and film productions that qualify will be able to access benefits in each country. In Brazil, these include tax incentives and access to federal public funds, while in the UK, productions will be able to apply for its Film Tax Relief fund and the BFI Film Fund.
The latter currently invests about £18m (US$29.2m) per year in the film industry and this is set to increase to £24m by 2017. The pact comes ahead of plans in the UK to introduce a new television production tax credit, set to become available next year.
Today’s announcement follows attempts to improve collaboration between the two countries. The most recent example came at the Rio Content Market in March, when UK and Brazilian trade bodies Pact and ABPITV signed an agreement to promote closer ties between the countries’ independent production sectors. The treaty will come into force within the next two years.