Australia and the United States have signed a deal to improve consumer product safety protection.

The Australian Competition and Consumer Commission (ACCC) and the United States Consumer Product Safety Commission (CPSC) finalised a Memorandum of Understanding (MOU) as part of the CSPSC chairman Inez Tenenbaum's visit to Australia.

"The MOU formalises and progresses the already well established product safety relationship between Australia and the United States," ACCC deputy chair Peter Kell said.

Under the agreement, issues that will be address include coordinating assessments of product safety risks and reducing the risk of injuries and fatalities associated with consumer products in the two countries.

Kell said the MOU will improve cross-border product safety compliance, as well as the sharing of relevant information about product safety hazards, standards and bans.

"The collaboration between the ACCC and the CPSC reflects the clear recognition in both Australia and the US that consumer product safety is an increasingly international issue."