New Delhi: The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval for entering into an Audio-Visual Co-Production Agreement between India and the Republic of Korea (RoK) and to complete internal ratification procedure, to enable the agreement to come into force.
The Agreement will be signed during the forthcoming visit of the Prime Minister to RoK.
Cooperation between the film industries of the two countries will not only promote export of Indian films but would also act as a catalyst towards creating awareness about India and its culture. This will help in increasing bilateral trade between both countries.
The following benefits are expected to accrue, from the proposed agreement on a Government-to-Government basis:
Background
RoK is a major East Asian country with which India has been able to establish a multifaceted relationship over a period of time. The audiovisual co-production agreement would open up new frontiers for the film industries of both countries. An audiovisual co-production agreement between India and RoK is expected to open doors for wide ranging collaboration and lead to strengthening of India’s cultural presence in an important part of the world.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.