He said there was much interest in a joint approach, especially in the wood industry, energy, food and defence industry.

Concrete activities are to be discussed at a business forum, which Žerjav said would be organised shortly.

Žerjav met with Foreign and Domestic Trade Minister Rasim Ljajić, Finance and Economy Minister Mlađan Dinkić, and Regional Development and Local Government Minister Verica Kalanović.

He said all the meetings were very operative and included addressing concrete problems of 17 Slovenian companies on the Serbian market.

According to a press release from the ministry, Serbia remains one of the most interesting markets for small Slovenian businesses and companies traditionally present there.

Slovenia is one of the most important investors in the Serbian economy, while Serbian investments in Slovenia have also increased recently.

Žerjav told the Serbian media after the meetings that Slovenia was open for Serbian investments, especially greenfield investments.

With Kalanović, Žerjav exchanged experience in the phasing the EU's regional development funds as Serbia's adapts its standards to those of the EU.

On the first day of the visit, the minister also addressed a meeting of the Slovenian business club in Serbia, presenting the government's anti-crisis measures, and attended an opening of a photo exhibition by Slovenian author Alenka Slavinec.

According to the Statistics Office, Serbia was Slovenia's tenth most important trade partner in 2011 with just over 1bn, which is 9% more than in 2010.

Slovenia exported some EUR 597m worth of goods in Serbia, while imports amounted to around EUR 415m.