How significant is the signing of the Mutual Recognition Agreement between Canada and the European Union?

“Canada Border Services Agency (CBSA) announced the signing of a Mutual Recognition Agreement with the European Union’s (EU) Taxation and Customs Union (TAXUD) This agreement will not only strengthen the security in the supply chain, facilitate areas such as risk assessment but will increase Canada’s economic strength in Europe.”
-Dean O’Brien, Business Development Executive

Read more about the agreement and how it enhances supply chain security and facilitates trade, here.