The European Commission announced the signature of an agreement between the EU and Canada to cooperate more closely to ensure the security of their supply chains. The Agreement builds on the existing customs cooperation agreement with Canada and extends it to include supply chain security and related risk management matters.

The EU and Canada signed an agreement to cooperate more closely to ensure the security of their supply chains. According to the European Commission, the agreement will allow closer cooperation between the two parties, with a view to ensuring a high level of security while facilitating legitimate trade between the EU and Canada. Cooperation will include work towards mutual recognition of risk management techniques, risk standards, security controls, and trade partnership programmes (the EU Authorized Economic Operator (AEO) and Canada's Partners in Protection (PIP)). In June 2011, the EU and Canada have reached agreement on an equivalency in organics product.

Algirdas Šemeta, Commissioner responsible for Customs stressed that international cooperation is essential to protect citizens' security while allowing the smooth flow of trade. He also underlined that this agreement with Canada will give the EU the tools to improve customs controls while cutting red tape for safe traders in both our territories.

The agreement will be concluded after the ratification process in the EU and Canada, which is expected to take place in the coming months, is completed. It builds on the existing customs cooperation agreement with Canada and extends it to include supply chain security and related risk management matters.