The UAE Federal Ministry of Finance has announced that it has inked a pact with Slovakia on investment protection and promotion.

The agreement is in line the UAE's vision to promote the country's relations with nations and reinforce co-operation with worldwide financial and economic bodies.

The sources said that the pact also focused on producing a favourable environment for the flow of investments between the two countries. It dealt with protection of investments, all types of non-commercial risks, such as nationalisation and judicial confiscation, seizure and freezing.

The sources further added that the agreement also addressed a preferential deal in accordance with the prevailing laws in the host country, as well as restricting the first country's provisions by custody.