The Government of Canada and the Grand Duchy of Luxembourg sign an audiovisual coproduction treaty
OTTAWA, April 19, 2017 /CNW/ - I am very pleased that the Government of Canada has signed an audiovisual coproduction treaty with the Government of the Grand Duchy of Luxembourg. This treaty will further position Canada as a partner of choice in audiovisual coproductions, and strengthen our cultural and economic ties with Luxembourg.
Canada's Ambassador to the Kingdom of Belgium and to the Grand Duchy of Luxembourg Olivier Nicoloff signed a bilateral audiovisual coproduction treaty with Film Fund Luxembourg's Managing Director Guy Daleiden.
Audiovisual coproduction treaties allow producers to combine their creative and financial resources to develop coproductions that stimulate foreign investment, create jobs, and increase exchanges of culture and knowledge between partner countries. In order for the new treaty to come into effect, each country will have to complete domestic procedures to ratify it.
Projects coproduced under a treaty are given national status in both Canada and the partner country. This makes producers eligible for national benefits in their own countries, such as funding programs and tax incentives.
In the past 50 years, Canada has signed audiovisual coproduction treaties with 55 countries. In the past 10 years alone, our country has produced 643 treaty coproductions, whose budgets total more than $4.9 billion.
SOURCE Canadian Heritage
For further information: Rachel Rappaport, Press Secretary, Office of the Minister of Canadian Heritage, 819-997-7788