UK Film Minister Ed Vaizey has announced that UK Trade & Investment (UKTI) and the British Film Commission (BFC) will form a new strategic partnership.

UKTI will provide an additional £400,000 over two years to the BFC’;s budget and enable the commission to try and maximise its impact across the globe, hopefully driving further investment to the UK.

Combining the BFC’;s film expertise and relationships with the wide international coverage offered by the UKTI network, the partnership aims to provide an opportunity to grow inward investment and extend the UK’;s international activity through film. It will also allow the BFC to maximise the benefits of the proposed TV tax credits if it goes ahead in April 2013.

Adrian Wootton, Chief Executive of the BFC and Film London, said: “This is fantastic news for the British film industry and the UK economy. We have seen huge investment from the US studios, which is in part thanks to the BFC having a dedicated team working directly with producers and decision makers in North America. This partnership will allow us to extend that remit, driving new investment in the UK. We have the facilities and the talent in the UK to welcome additional film and high end TV production. Following our work with key national public and private industry partners laying the groundwork for the potential TV tax credit, we are delighted to be working with UKTI to exploit that, grow our commercial activity and forge new networks in the emerging markets.”

Trade and Investment Minister Lord Green added: “The UK has one of the strongest creative content sectors in the world and I am delighted this partnership with Film London and the British Film Commission has been forged to increase investment in UK film. With the world’;s spotlight on the UK this summer we are working through the British Business Embassy programme to enable companies to capitalise on the opportunity we have to secure new trade and investment.”

The BFC is the national body in charge of encouraging and supporting international feature film production to the UK. It promotes and supports the UK film and TV production infrastructure and liaises between the UK Government and industry on legislative issues that impact on film production. Its current remit focuses on film and attracting investment from the US.

The partnership with UKTI, along with crucial funding, will allow the BFC to extend its remit to global territories, and specifically capitalise on the opportunities presented by emerging markets and international high end TV production. The partnership is part of UKTI’;s Open for Business strategy which encourages new partnerships and strategic relationships that will help realise government’;s ambitions for growth through international business.