Prime Minister John Key says the signing of a Film Co-Production Agreement between New Zealand and the People's Republic of China will be a great boost to the film industry in both countries.

The Film Co-Production Agreement was discussed during a meeting between the Prime Minister and Premier Wen Jiabao in Beijing today. Both leaders noted that the Agreement would help facilitate screen industry partnerships between the two countries.

The Film Co-Production Agreement between New Zealand's Ministry for Culture and Heritage and China's Administration for Radio, Film and Television, will enable approved joint film projects to gain ‘official co-production' status.

The status gives co-production film makers access to funding and incentives in line with those available for ‘national' films in each country. Parties also facilitate temporary immigration and importation of equipment, within existing regulations.

"New Zealand film makers are increasingly interested in partnering with Chinese film makers and in telling stories of interest to both cultures," Mr Key says.

"The China film market offers considerable potential and there are significant benefits in being an early mover here. This agreement will offer greater certainty to investors looking to fund New Zealand-China film co-productions.

The agreement with China covers feature films expected to be shown in cinemas and movies made for television (telemovies).

Mr Key says New Zealand and China are also in talks about the possibility of negotiating a separate agreement relating to television co-productions.

"There is a high level of commercial interest from parts of the New Zealand screen industry in making officially recognised television co-productions between China and New Zealand."

China has not previously concluded a Television Co-Production Agreement with any other country.

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