Spectator on facebook

Spectator on facebook

Soft Brexit is the best option

Economic experts agree that since no analysis counts with hard Brexit, a no deal scenario would be a step into the unknown.

(Source: TASR/AP)

No deal in negotiations between the European Union and the United Kingdom, which leaves the club in 2019, would be an extreme shock for the economy. All current analysis count with a soft Brexit, which will allow the UK to remain an important business partner, experts agree.

“The topic of Brexit is underestimated in Slovak discussions,” economic analyst Vladimír Vaňo told the press in late November 2017.

Read also:A record number of British companies are locating to Slovakia

Despite their geographical distance, the business relationship between Slovakia and the UK is booming. The UK was one of Slovakia’s biggest business partners. It was the country’s fifth biggest export and 12th biggest import partner in 2016.

Its importance may even increase, particularly after Jaguar Land Rover launches production in its Nitra-based plant, Vaňo opines.

Business relations should remain open

Slovakia wants to maintain mutual business relations with the UK as open as they are now. Moreover, it supports the smallest customs duties possible and the elimination of all non-tariff business obstacles of goods most exported to the UK (mostly vehicles, electronic devices and machinery products), said Maroš Stano, spokesperson for the Economy Ministry.

“The best way to achieve this goal is to sign a comprehensive and broad free trade agreement between the EU27 and the UK that will include trade with goods and services, investments and public procurement,” Stano told The Slovak Spectator.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

Annual
subscription

29 €
Buy
You save 17.80 € compared with monthly subsription
Quarterly
subscription
9.90 €
Buy
You save 1.80 € compared with monthly subsription
Monthly
subscription
0.98 €
Buy
Price is only for new subscribers for their first month. All other months are standard price of 3.90€

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

People marched for LGBTI rights in Bratislava

Take a look at the Bratislava Rainbow Pride 2018 that took place on Saturday, July 14.

First Slovak LGBTI activist has fought for 40 years

Czechoslovakia was one of the first countries to say homosexuality is not a crime, also thanks to the first activists like Imrich Matyáš.

Imrich Matyáš (r) met with German publicist and lawyer Kurt Hiller (second r) in Ľubochňa in 1935.

Measles might spread further west

Police will assist the vaccination in communities from where the epidemic spread.

This is why I support the Pride march

There is still a lot of work ahead of us in the United States, in Slovakia, and around the world to fight for equal rights for everyone no matter who they are or who they love, writer US Ambassador to Slovakia.

Slovakia's first Gay Pride parade crossed Bratislava's New Bridge on May 22.