VIRTUAL WATER POTENTIAL OF SELECTED COMMODITIES IN CO-OPERATION OF THE SLOVAK REPUBLIC WITH COUNTRIES OF THE WESTERN BALKANS

Our paper rests on two fundamentals: firstly, the EU's initiative to deepen cooperation with and the prospect of its enlargement to the Western Balkans region; and, secondly, the urgency to address sustainable development issues in the international environment. As the virtual water perspective represents an innovative approach in the field of sustainable development, the aim of our paper is to analyse trade-related characteristics based on the water footprint concept (complementary to the alternative RCA/RTA indexes designed to calculate a country's comparative advantage or disadvantage). In our paper, we analyse and evaluate selected commodities traded by the Slovak Republic and the Western Balkans countries in terms of the absolute/comparative advantage related to the national water footprints.