Recognising that development of such potential will be to the mutual advantage of each Party, in particular in respect of the growth and competitiveness of their film industries and the enhancement of their film cultures;
Noting the benefits available in each country to films with national film status;
Desiring to encourage the making of films that reflect, enhance and convey the diversity of culture and heritage in both countries;
Acknowledging the benefits that would flow from the making of such films and from an increase in public availability of distinctive and successful co-produced films; and
Noting that each Party expects from this Agreement a contribution by was of economic or cultural benefits, with the intention of creating an overall balance in film-making contribution benefiting each country based on the total number of co-produced films that are approved over a period under this Agreement;
Have agreed as follows:
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