Car companies in Slovakia could profit from the JEFTA economic partnership agreement signed between the EU and Japan, which will boost shared trade and decrease the prices of products for consumers, economy analysts have stated. "We consider the signing of an agreement on free trade between the EU and Japan to be a positive factor, especially in today's era of growing protectionism and with a trade war between the USA, EU and China looming over us. The deal should boost shared international trade and investments circulating between the two parties," said Poštová Banka analyst Jana Glasová. Analysts also see minor risks: "In the long run it might slightly harm domestic producers, but we don't predict any major changes," said Tatra Banka analyst Tibor Lörincz.
The JEFTA economic agreement will also help farmers, who will gain access to the Japanese market and protection of circa 200 European foods and beverages. Besides the agriculture and car industries, JEFTA could help the financial services market, telecommunications and transport, by opening it up and making it more effective.
