SINGAPORE, Nov. 30 (Xinhua) -- The Indonesian Film Board (BPI) and the Southeast Asian Audio-Visual Association (SAAVA) signed here Thursday a Memorandum of Understanding (MoU) to strengthen cooperation.
The two sides inked the agreement so as to jointly promote the filmed entertainment, digital content and media production industries in Indonesia and around Southeast Asia.
They agreed to promote more co-productions and jointly develop and promote best practices across the region.
They also aimed to develop the regional media finance industry by educating investors on sound media investment methodologies and proper structuring of film funds, while teaching producers about proper pitching, honest budgeting, and how to engage investors on the business side of the creative business.
Moreover, they decided to promote knowledge and skills transfer through greater participation and exchanges at events, and the sharing of data and information.
"Indonesia is the largest market in Southeast Asia, with a rich cultural history and a vibrant media industry. This collaboration will help expand and strengthen the network across the region, enabling filmmakers, financiers and distributors to share creative ideas and structure business deals with each other," said Chan Gin Kai, SAAVA's president.
The MoU was signed at the Southeast Asian Film Financing Forum, a cornerstone event at the Asia Television Forum and ScreenSingapore market.
The Asia TV Forum & Market is one of the constituent event of the Singapore Media Festival- Southeast Asia's largest international media event gathering industry players from film, television, and digital media. This year's festival runs from Nov. 23 to Dec. 3.
BPI represents and serves the growing Indonesian community of feature film producers through the organization and participation of film events within and outside of the country.
SAAVA is a regional non-profit creative producing network that aims to unite media producers and financiers in the region.