On 1 December 1998, following an exchange of letters between the European Union and the United States confirming the completion of both Parties' internal procedures, the Mutual Recognition Agreement (MRA) entered into force. In order to ensure a successful implementation of the Agreement, the European Commission is currently taking all necessary steps to prepare the 2 to 3 year transition activities, which started in December 1998 including designation of Conformity Assessment Bodies (CABs), which are going to participate in transitional activities.

This agreement provides for mutual recognition of conformity assessments of industrial products carried out by the CABs on the territory of the exporting party. Mutual recognition will avoid duplication of controls, increase transparency of procedures and bring products faster on the market in six industrial sectors: telecommunication equipment, electromagnetic compatibility, electrical safety, recreational craft, medicinal products and medical devices. This agreement covers about 40 bn ECUs worth of Transatlantic trade a year and should save about 200 millions ECUs a year. It should benefit manufacturers, traders and consumers. The Commission is also looking at a possible extension of the MRA, in terms of new sectors or recognition of technical requirements.