ROME — The Italian and Brazilian film industries are launching a joint film fund to strengthen their budding moviemaking bond.

The agreement between the two countries to jointly provide government-financed coin incentives to support co-productions of both feature film and documentaries was unveiled on Tuesday at the Rio de Janeiro Film Festival.

Still preliminary pact was inked for Italy by Luciano Sovena, topper of state film outfit Istituto Luce and by Francesco Carducci, director of Rome’s Cinecitta Holding, while Manoel Rangel, head of Brazil’s Agencia Nacional de Cinema, inked it for the Brazilian side.

Sovena, a producer and entertainment lawyer, is serving on the jury of this year’s Rio fest, a prominent Latam showcase.

Details, which are still being hammered out, will be announced during the Rome Film Festival later this month when the fund — available starting in 2008 — will be finalized.

Italy, which has long been forging ties with the Latin American film community, recently set up similar co-production incentives with Argentina.

Meanwhile, Italy and Brazil already have several co-productions in various stages, including “Estomago” by first-timer Marcos Jorge preeming in competish at the Rio fest, “Garibaldi” a historical epic by Alberto Rondalli, in post, and “Birdwatchers,” a drama about the extinction of the Kaiowa Indian tribe in Brazil’s Mato Grosso presently being shot there by Marco Bechis (“Garage Olimpo”).