NEW INTERNATIONAL FILM CO-PRODUCTION AGREEMENT

A new international agreement has
been signed in Rome which will provide a boost to the growing New Zealand film
industry.

The Agreement between New Zealand and Italy concerning
co-production of films will provide new opportunities for the film makers of
both countries to work together in the development of projects produced and
financed jointly by each country.
The Agreement was signed by the
Italian Deputy Prime Minister, who is also the Minister of Culture, and the New
Zealand Ambassador to Italy, on behalf of the New Zealand Government.

Minister of Cultural Affairs, Hon. Chris Fletcher, says the Agreement
will reinforce the warm relationship between the two countries through the
medium of film. "The Agreement establishes a valuable additional source of
finance and production support for film makers and will be mutually beneficial
for the film industries of each country. This Agreement has the potential to
lead to increased film production, improved employment opportunities and higher
foreign exchange earnings."8

New Zealand already has co-production
agreements with Australia, the United Kingdom, Canada and France. These
agreements have been successful in generating film productions with estimated
total budgets in excess of $150 million.

The New Zealand Film Commission
will administer the Co-production Agreement on behalf of the New Zealand
Government, and in Italy, the Presidenza del Consiglio dei Ministri,
Dipartimento Spettacolo (Prime Minister's Office, Entertainment Division) will
be the responsible agency.

``I would like to pay tribute to the Film
Commission for its initiative in promoting the idea of an agreement in
consultation with its Italian counterpart. The Commission has worked closely
with the Ministry of Foreign Affairs and Trade and the Ministry of Cultural
Affairs to negotiate the final text of the Agreement and is to be congratulated
for its efforts'' the Minister said.