FREEPORT, Grand Bahama ﾖ The Bahamas is considering whether it wants to take part in international accords designed to create partnerships between countries in the production of motion pictures, according to Bahamas Film Commissioner Craig Woods.
The accords, known as International Co-Production Treaties, enable countries to pool financial resources to bankroll films.
The Ashby Corporation, which owns the new Gold Rock Creek Bahamas Film Studios project in East Grand Bahama, wants the Bahamas to become a signatory to the treaties that company officials recently said would assist in the studio securing major production deals.
The treaties have already been signed by Canada and countries in Europe.
But since the treaties also allow for the sharing of human resources between treaty countries, Bahamas Film Commissioner Craig Woods said the accords must be approached with careful consideration.
ﾓWe are still doing the necessary research [on the treaties] to ensure that our location is dealt with fairly and we donﾴt do something in a rush and a panic whereby we put ourselves in a less than competitive position,ﾒ he said.
ﾓSo we are still doing as much of the due diligence as possible in terms of researching and getting the correct information to put a position forward.ﾒ
Mr. Woods pointed out that the Ministry of Foreign Affairs would be driving potential co-production treaty negotiations in some respect, since the treaties represent agreements between different countries.
Co-production treaties originated in Canada, according to Paul Quigley, chief operating officer of the Bahamas Film Studios.
ﾓThe reason co-production treaties were set up in Canada,ﾒ he explained to the Journal, ﾓis that [in the past] it was extremely difficult to finance motion picture and television shows.ﾒ
According to Mr. Woods, the Bahamas could stand to benefit from the treaties should it decide to enter into them.
ﾓWell firstly it benefits in terms of getting films produced in the Bahamas with countries it has the treaty with, in addition to having Bahamians work in the treaty countries and also go to those countries for training,ﾒ he pointed out.
Opportunities for Bahamians are what Bahamas Film Studio officials also said will be created, if three major motion picture deals are successfully negotiated by the company.
Mr. Quigley revealed that the studio is now negotiating over $500 million worth of film production deals, two with film companies out of California.
The film studio is currently building a massive water tank that it expects will be used in the filming by at least one major U.S. film company, whom Mr. Quigley did not wish to name because of ongoing negotiations.
Yesterday, U.S. television giant CBS announced that it was teaming up with the director of the Hollywood blockbuster movie ﾓMen In Blackﾒ for the production of a private-eye film that will be shot in the Bahamas.
The regionﾴs film industry has proven lucrative in recent years, particularly for Jamaica, which reportedly earned over $850 million last year from the production of films and a reality show.
Sharon Williams, The Bahama Journal
