UK and Brazil ratify co-production treaty after five year delay
A co-production treaty between the UK and Brazil has now been established, affording projects in both countries with access to localised film incentives and initiatives. The treaty was ratified by the UK’s Department of Culture and Brazil’s film agency, BRAVI.
The treaty itself was agreed upon five years ago, but the process of ratification was delayed amidst Brazil’s period of political instability.
Brazilian Producers will now be eligible for the BFI’s Film Fund when a minimum financial contribution of 20% is met with any given co-production. Brazil’s incentives on the other hand, which are inaccessible to exclusively foreign productions, can now be tapped into by UK Producers.
As part of the ratification, a variety of initiatives backed by PACT and ABPITV will be used to encourage the two countries to maintain a steady degree of collaboration.
Brazil’s international profile has improved since the country hosted the 2016 Olympic Games, with the demand for Brazilian locations steadily increasing. Netflix recently shot their sci-fi drama, 3% (pictured), within the country, with the company set to return for their upcoming crime series, Operation Car Wash.
Prior to this development, the UK recently established a television co-production treaty with China, making it the second country in the world to do so. The rise of international co-productions with China can be attributed to the country’s highly lucrative box office. The Fate of the Furious recently took home a staggering USD65.6 million on its first day of release in China.
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