It has taken quite a while for the EU to sign it (appeasement of the North, perhaps? Allright, that's just a joke).
The agreement provides for :
-the notification of enforcement activities that may affect the interests of the other jurisdiction
-mutual assistance, including the possibility for one authority to ask the other to undertake enforcement action
-coordination of enforcement activities
-exchange of non-confidential information
-organisation of regular bilateral meetings between the parties' competition authorities.
The Commission's press release is available here. The actual text of the agreement is not made public (Commission's opacity policy oblige).