The GHS regulation, which has already been approved by the European Parliament, will enter into force after being published in the Official Journal of the EU.
The regulation will replace the current rules on classification, labelling and packaging of substances and mixtures.
Under the new rules, the deadline for substance classification will be Dec. 1, 2010 and for mixtures June 1, 2015.
The European Commission, the executive body of the EU, welcomed the agreement, saying the new system will ensure the same hazards are described and labelled in the same way all around the world.
It will also facilitate trade and contribute to global efforts in protecting humans and the environment against hazardous effects of chemicals, said the commission.
"This agreement helps to remove trade barriers and enterprises will save costs. This kind of regulation at the U.N. level will be a great help to European industry," said European Commission Vice President Gunter Verheugen, who is in charge of enterprise and industry.
