In an effort to generate more jobs and economy prosperity, Canada Monday signed a customs cooperation agreement with its second largest trade partner European Union in Brussels.

The agreement was signed to expand cooperation on customs affairs and strengthen the two-way trade relationships between the two parties.

"This agreement with the EU further demonstrates Canada's commitment to support safe and secure global trade," said Vic Toews, Canadian Minister of Public Safety.

 "Working with our international partners to strengthen customs cooperation contributes to our security and supports job creation and economic growth," said Vic Toews.

By signing the customs agreement, Canadian Trade Minister Ed Fast said that the agreement will open new markets in Europe.

"Opening new markets in Europe is a key part of our government's focus on creating jobs, growth and long-term prosperity," said Minister Fast.

"Facilitating deeper trade through agreements like these will help our exporters gain even greater access to the dynamic EU market and strengthen the financial security of workers and businesses in every region of our country," he added.

The agreement was signed by Canadian Ambassador to the EU David Plunkett and Permanent Representative of Ireland to the EU Rory Montgomery and Heinz Zourek, director general of DG Taxation and Customs Union in the European Commission.

The latest customs agreement was signed based on the customs cooperation and mutual assistance in customs matters which came into force since January 1, 1998.

The European Commissioner for Customs and Taxation Algirdas Semeta said that trade agreements are important as no country can survive in isolation.

"In a globalized world with globalized trade, no country can ensure the security of their supply chain in isolation. International cooperation is essential to protect citizens' security while allowing the smooth flow of trade," Xinhua news agency quoted Algirdas Semeta, as saying.

"This agreement with Canada will give us the tools to improve customs controls while cutting red tape for safe traders in both our territories" said Semeta. 

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