MUMBAI: The UK and Brazilian Governments have signed a co-production treaty.

The terms were negotiated by BFI, a UK organisation for film, and Ancine, the National Cinema Agency of Brazil. The treaty was signed in Brasilia by Lord Green of Hurstpierpoint.

The treaty is expected to take two years to come into force.

Film and TV productions that qualify under the terms of the treaty will be able to access the benefits of national status in each country.

In Brazil these include tax incentives, all federal public funds and access to favourable TV terms, while in the UK qualifying productions will be able to access the UK public film fund with a current allocation of £18 million per year to invest in the development, production and completion of feature films.

This is set to increase to £24 million by 2017 when the BFI launches its five year plan for film in October.

The announcement follows a number of initiatives to foster greater creative collaboration between the UK and Brazil. The most recent example came at the Rio Content Market in March 2012, where Pact and the ABPITV, the trade bodies representing independent producers in the UK and Brazil respectively, signed an agreement to promote closer ties between the independent production sectors in both countries.

Further cultural collaboration between the UK and Brazil will come later in 2012 with the British Council Transform event, a cultural programme of cross arts and transformative arts activity spanning the four years between London and Rio Olympic Games.

Transform kicks off at the Rio International Film Festival in October 2012 with a retrospective of the works of Brazilian director, Alberto Cavalcanti, from the BFI National Archive and a high profile screening of legendary British director Alfred Hitchock's The Pleasure Garden at an outdoor gala on the Copacabana Beach. The film has been restored by the BFI as part of its Genius of Hitchcock summer blockbuster project, and will be screened in Brazil accompanied by live music performed by the Brazilian Youth Orchestra from a score composed by British composer, Daniel Patrick Cohen.