As part of the ongoing free trade discussions between the two countries, Prime Minister Manmohan Singh and his New Zealand counterpart John Key have signed an official film co-production treaty.

The Agreement, New Zealand’s 11th such official agreement on audio-visual co-productions, will allow both sides to encourage industry-level cooperation, share creative talent and support the vibrant film industry in both countries,” both the prime ministers said in a joint statement.

The pact allows approved film and television projects to gain the status of official co-productions that will give them the benefits accorded to domestic films in each of the co-producers’ countries.

 
A producer from each country must be attached to a qualifying film while getting access to funding and incentives as well as facilitating temporary immigration and importation of equipment within existing regulations.

Key said that the new treaty “will encourage further cooperation between the film industries of both New Zealand and India by enhancing screen co-investment, joint creative input and film crew interaction."

Commented New Zealand Film Commission CEO Graeme Mason, “We already know of a couple of projects in the early stages of development which could take advantage of the new arrangement. 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.

Recent Bollywood films that have been shot around Queenstown in New Zealand are Hate Luv Stories and The Players.

As on 30 March this year, the New Zealand film production industry was worth $2.4 billion, according to a recent government statistics.