Bruederle delivered the talk as part of his two-day visit, organised by the German-Croatian Chamber of Industry and Commerce.

Among potential areas of cooperation, the German minister cited energy and the car-parts industry. He said that for the first time since 1973 Germany had adopted an energy development strategy in which emphasis was placed on renewable energy sources.

Energy produced from such sources will need to be transported and connected to the existing networks and systems, which is where Croatian companies will have a chance to join in, Bruederle said.

In the next ten years Germany wants to have a million electric cars on its roads, which will provide strong impulse to the industry, which in turn will need foreign subcontractors, so that will also be an opportunity for Croatian producers, he added.

Another opportunity for Croatia lies in the shortage of labour in Germany due to negative demographic trends, for which reason some of the industry could be organised in surrounding countries, the minister said.

Bruederle announced that a German-Croatian economic forum would be held next year during President Ivo Josipovic's visit to Germany.

Croatian Economy Minister Djuro Popijac invited German companies to invest in Croatia and to organise their production in many of its enterprise zones. He called on the Germans to support the restructuring plans for the Croatian shipbuilding industry, saying that the Croatian government wanted the shipyards to remain the driver of the country's industry.

The President of the Croatian Chamber of Economy, Nadan Vidosevic, said that Croatia could serve as a starting point for Germany's economic expansion in an area stretching from Lombardy to Bulgaria and as far as north Africa. He said that Croatia was also a good investment destination because of its prospective EU membership.

Germany is one of Croatia's most important trading partners, with their trade slightly exceeding two billion euros in the first nine months of this year. Croatia's exports to Germany increased 10 per cent year on year to EUR 690 million, while imports from Germany dropped 11 per cent to EUR 1.4 billion.

Germany is also important for the Croatian tourist industry. At 22.3 per cent, Germans account for the largest number of holiday makers visiting Croatia.

In terms of foreign direct investments in Croatia, Germany ranks third, after Austria and the Netherlands, with EUR 2.77 billion invested from 1993 to the end of June 2010.