The Canada Border Services Agency (CBSA) announced the signing of a Mutual Recognition Agreement with the European Union’s (EU) Taxation and Customs Union (TAXUD) to honour each other’s Trusted Trader programs.
Members of Canada’s Trusted Trader program, Partners in Protection (PIP), will have their goods treated as low risk and cleared by EU Customs faster, ultimately saving time and money at the border.
The CBSA will do the same for members of the EU’s Trusted Trader program, which is referred to as their Authorized Economic Operator program.
This will also allow the CBSA to focus its resources on areas of higher or unknown risk and protect Canadians by preventing contraband from entering the country.
The key goal of mutual recognition is to strengthen trust and security in the supply chain to prevent criminal activity, such as cargo theft and pilferage, and smuggling contraband. Mutual recognition also contributes to trade by streamlining processing at the border for certified trusted traders.