It’s official: The Cannes Festival and Marche du Film will partner with Argentina’s INCAA film institute on a major new Latin American film market and confab named Ventana Sur.

The launch looks like an early initiative as the Cannes Festival seeks to take its brand, expertise and services abroad.

“This partnership with INCAA is the start of many initiatives the festival would like to organize outside the city of Cannes,” said Jerome Paillard, Marche du Film exec director, who unveiled Ventana Sur in Cannes on Saturday with Cannes fest director Thierry Fremaux and INCAA prexy Liliana Mazure.

The Marche du Film already co-organizes a Producers’ Network event at Mexico’s Guadalajara Film Festival every March. But Ventana Sur will be the first fully fledged event co-organized by the festival and the Marche, which have signed a three-year renewable contract with Argentina’s INCAA.

Running Nov. 27-30 in central Buenos Aires, Ventana Sur will cover flight and accommodation costs for 200 overseas buyers, including TV acquisitions execs, said Mazure.

A showcase for Latin American film production, Ventana will feature around 50-60 screenings of new Latin American films. Directed by Bernardo Bergeret, INCAA head of international affairs, Ventana will also feature meeting places for producers, a digital video library for 200-300 films, and a Spanish-language version of Marche website Cinando.com.

It will be preceded by a meeting of the pan-regional Ibermedia film fund, the third Expotoons animation fest and market, and Doc Buenos Aires co-productions forums.

“Latin America produces high-quality films but these have many problems in distribution and exhibition,” Mazure said.

“There’s a need for specialized events, dedicated to promoting regional cinema, and production in Latin America is strong enough to merit one,” Paillard said.