London, Oct 21 (IANS) Indian and British filmmakers are expected to co-produce 10 new movies over the next two years as a bilateral film treaty kicks in, officials said Tuesday.

'London Dreams', a film starring Salman Khan and Ajay Devgan, will be the first title under the co-production treaty that was approved by the Indian cabinet in April after months of delay.

British culture department officials said the treaty gives financial incentives, including tax-breaks and funding for Indian filmmakers.

'It's good for cinema and positive for cultural ties between India and the UK,' said Simon Oliver of the department of culture.

Culture Minister Barbara Follet is to meet with Bollywood stars Salman Khan, Ajay Devgan and Asin and director Vipul Shah on the sets of 'London Dreams' at Trafalgar Square in central London Wednesday in a symbolic start to the treaty, Oliver said.

'Indian film producers are very keen to promote this treaty, which has suffered from the usual bureaucratic delays in India,' said Pervez Alam, director of India-EU Film Initiative, an organisation that promotes links between Indian and European filmmakers.

'There is a recognition in Britain that the Indian film industry today has muscle - and money-power. People don't want to miss out on that opportunity,' Alam added.

A 2007 report by PriceWaterhouseCoopers, the professional services firm, said India and China are expected to drive the global entertainment and media industry to $2 trillion by 2011.