Australia and Malaysia have finalised a bilateral film co-production agreement, paving the way for producers in both countries to collaborate more closely on projects for the big and small screen.
"As well as enhancing our cultural ties and strengthening our people-to-people linkages, the agreement will reinforce our bilateral economic relationship and provide a mechanism for Australian and Malaysian producers to compete more effectively in the global marketplace," Minister for Trade and Investment Andrew Robb said.
Co-production agreements open up access to a larger pool of talent, expertise and infrastructure, with the costs of production also being shared by participating countries.
"The agreement will provide a conduit for creative exchange and the development of screen projects of cultural significance to both Australia and Malaysia," Minister for the Arts Mitch Fifield said. "It will also engage new international audiences in our local and shared stories."
The agreement was completed during Trans-Pacific Partnership Agreement (TPP) negotiations, a deal which was hailed by Screen Producers Australia CEO Matt Deaner as a terrific outcome for Australia's screen industry.
Deaner said Australia’s negotiation team had been able to preserve existing rights on spectrum management and licensing of broadcasting services, transmission quotas for local content on free to air and radio broadcasting services, the provision of subsidies and grants for investment or the use of taxation measures in Australian cultural activity and the international co-production program.
"Australia has retained the capacity to make interventions it considers appropriate and necessary in the emerging connected, online and mobile digital world to ensure the availability of Australian content to Australian audiences," Deaner added. "Effectively a ''carve-out' for Australian content in this emerging space."
In addiion to Malaysia, Australia has film co-production agreements with Canada, China, France, Germany, Ireland, Israel, Italy, Republic of Korea, New Zealand, Singapore, South Africa and the UK.
Combined, these agreements have resulted in more than 165 productions with total budgets of $1.5 billion. Malaysia is Australia's second-largest trading partner in ASEAN and ninth-largest partner overall.