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The phrase "The current agreement" is correct and usable in written English.
You can use it when referring to an existing contract or understanding that is in effect at the present time. Example: "Before we proceed, let's review the current agreement to ensure all parties are on the same page."
Exact(60)
The current agreement expires in March.
The current agreement expires Sept. 15.
The current agreement expires late Saturday night.
The current agreement expires Sept. 15, 2012.
(The current agreement expires in November).
The current agreement ends in the spring of 2008.
The current agreement runs out at the end of June.
The current agreement was set to expire after the 2004 season.
The current agreement expires Sept. 15, and a lockout is widely expected to follow.
The current agreement has the effect of insuring its equity stake against market risk.
The current agreement sets a floor price of 21.69 cents a pound for winter tomatoes.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com