Parliament approves trade agreement with Canada

CETA will have only a minimal impact on Slovakia.

Slovak parliamentSlovak parliament (Source: TASR)

Slovakia’s parliament has issued consent to sign a trade agreement with Canada.

The EU-Canada Comprehensive Economic and Trade Agreement (CETA) aims to liberate business with goods and services between the signatories, as well as adopt rules concerning mutual trade in compliance with the World Trade Organisation’s rules.

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Impact on Slovakia minimal

The direct impact of the CETA agreement on the Slovak economy is expected to be minimal. It should support the country’s economic growth by only 0.013 percent of GDP, according to the submitted materials.

The reason is the low trade exchange between Slovakia and Canada, and the fact that 80 percent of collected duties go to the EU budget.

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