India-New Zealand sign co-production treaty
India and New Zealand signed a bilateral film co-production treaty on Tuesday. This treaty was signed during New Zealand Prime Minister John Key’s visit to New Delhi.
The treaty will “allow both sides to encourage industry-level cooperation, share creative talent, and support the vibrant film industry in both countries,” India and New Zealand prime ministers said in a joint statement.
According to the agreement, a producer from each country will be required to be attached to the qualifying project. The project can then reap the benefits of a domestic project in each of the producer’s country, which may include access to funding and incentives, temporary immigration and equipment importing.
“We already know of a couple of projects in the early stages of development which could take advantage of the new arrangement” said New Zealand Film Commission CEO Graeme Mason.
This agreement will also offer greater certainty to investors looking to fund New Zealand-India film co-productions.
The treaty comes after four years of the beginning of negotiations between the two countries.