Karl-Theodor zu Guttenberg has been proposed by his party as the new German economy minister following the shock resignation of Michael Glos.
Mr Zu Guttenberg, 37, is secretary-general of the Christian Social Union (CSU), the Bavarian sister party to Chancellor Angela Merkel's Christian Democrats.
Mr Glos, widely criticised for his low profile during the global financial crisis, said last night that he would submit a request to resign to Chancellor Merkel.
In his resignation letter, Mr Glos said he wanted to resign as he was approaching 65 and had no intention of serving as a cabinet minister after a federal election due in September.
Meanwhile, official figures showed that Germany's trade surplus fell 8.7% in 2008 to €178.2 billion, as imports grew more than exports. Exports increased by 2.8%, but imports rose by 5.8%.
