BRUSSELS (Reuters) - Germany and France on Wednesday signed an implementation agreement for a satellite-based early warning system called Odin's Eye, which is meant to significantly improve Europe's ability to detect missile launches.

"It remains crucial for our joint defence that we can detect and counter threats as swiftly as possible," German Defence Minister Boris Pistorius said at a signing ceremony with his new French counterpart Catherine Vautrin on the sidelines of a NATO meeting in Brussels.

"From space, we aim to spot hostile missiles the moment they are launched. Only then we can intercept them in time."

German space company OHB has been coordinating the development of an architecture for Odin's Eye.

(Reporting by Sabine Siebold, writing by Inti Landauro; Editing by GV De Clercq)