Croatia has invested slightly over €1 billion in Bosnia and Herzegovina to date, which makes it the second-largest investor in the country, Bosnia's Foreign Investment Promotion Agency (FIPA) said in a statement on Friday, citing central bank statistics.

FIPA presented the data to the newly-appointed Ambassador to Croatia, Aleksandar Vranjes, with a view to further promoting cooperation between the two countries.

The data covers the period between May 1994 and the end of 2018, during which time Croatia invested 2.293 billion convertible marks or about 1.172 million euros.

Croatian investments account for 16 percent of total foreign investments in Bosnia. Forty-six percent of Croatian investments were made in financial and insurance activities, 19.6 percent in the processing industry and 15.4 percent in trade.

The largest Croatian investors are the HT telecommunications company, the Agrokor food and retail conglomerate (now Fortenova), the Atlantic food and retail group, the Belupo pharmaceutical company, the Kras confectionery company and the Dukat dairy company.

FIPA said that in cooperation with the Bosnia and Herzegovina Embassy in Croatia, further efforts would be made in promoting the Bosnian economy.