Agreement will streamline co-productions between the countries
JOHANNESBURG — The governments of South Africa and Australia inked a co-prod agreement last week that they said will benefit filmmakers in both countries.The agreement will streamline administrative processes and free up funding for residents of both countries. Under the agreement, films approved as co-prods will receive “national treatment” in both countries, offering access to greater funds and tax benefits, simplified immigration requirements, and duty-free imports on equipment. The agreement will also allow co-prods to be treated as “local content” for domestic TV quotas. Officials said the agreement will allow filmmakers in both countries to pool their resources and create high-quality content in both markets. South Africans are expected to use the treaty to take advantage of Australia’s appealing incentives. Australian interest is likely to increase in a South African industry that has been reinvigorated in recent months.