"This decision will enable Australian TVC production companies to negotiate flexible terms with performers working on international commercials.  We believe it will be easier to do business in Australia and that Australia will immediately become more competitive as a production destination," Mr Brown said.
 
Mr Brown said that Australian TVC companies pitched for but lost more than $60m of offshore commercials work in the past 12 months.   "This is a highly lucrative sector. If Australia had secured just half of this production, it would have meant hundreds of well-paid jobs for actors, crews and production companies.
 
"But the reality is that despite the best intentions of all parties, the Commercials Offshore Agreement has been working as a barrier to employment. International agencies have been telling us that, despite the appeal of using Australia's highly regarded performers, our world class crews, production facilities and diverse locations, they have been choosing to make commercials in competitor countries such as New Zealand, South Africa and Canada because it has been too expensive and complex to employ actors here.
 
"By signalling that Australia has responded to international market conditions, we believe we will be better placed to bring millions of production dollars to Australia annually, creating more opportunities for our performers, production companies, directors and crews."