The EU and the US Transport Security Administration now mutually recognise each other's respective air cargo security regimes, which will eliminate redundant security procedures when air cargo flies between the EU bloc and the US. Both sides agreed to share information and jointly participate in inspections.
The European Commission said in a release that that recognizing each set of procedures as equal will eliminate duplication and save tens of millions of euros per year in the EU without compromising security. It estimates that in some instances, security measures may account for 4% of an operator 's turnover, and one-fifth of that may be comprised of duplicate security costs incurred on each side of the Atlantic.
The agreement will eliminate additional security measures for cargo flying between the EU and the US. Before the agreement, EU cargo flying to the US was subjected to US TSA security controls, even if they were duplicative of those in the EU.
The European Commission says that more than a million tonnes of air cargo moves between the EU and the US each year. The air cargo traveling from the EU to the US is worth more than 107 billion euros-27% of the total value of the goods that the EU exports by air.