Hong Kong: Co-operation between Malaysia and Lazio, Italy's audiovisual (AV) industries was formalized March 18, 2008 with a Memorandum of Understanding signed by the former's Multimedia Development Corporation (MDeC) and the latter's Finanziaria laziale di sviluppo (FILAS) at Hong Kong FILMART.

The agreement promotes bilateral development of the creative industries in both territories and new business opportunities in Asia. It covers co-productions, networking meetings, joint participation in business trips, a convention, international events as well as exchange of good practices, technology, and the joint use of resources, research, market studies and business intelligence.

The MoU also promotes joint participation of Malaysian and Italian AV firms in European Union (EU), Association of Southeast Asian Nations (ASEAN), and national programmes. It facilitates public and private financing of industrial and innovation projects by both parties.

The initiative follows FILAS' previous agreements with the Media Development Authority of Singapore (MDA) and the Federation of Indian Chambers of Commerce and Industry (FICCI) to promote exchanges with Asian AV industries.

FILAS serves as the facilitator for Lazio-based companies, especially small and medium enterprises to access global markets. It led a delegation of five production houses including Movie Factory, Oriza Produzioni, The Pool Factory, Publispei and Future Film to Hong Kong FILMART, with co-production and collaboration deals expected to be signed with Malaysian firms led by MDeC to the TV and film market.

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