He said the party's principal tasks would be the exercise of Croats' minority rights in Serbia, primarily in the official use of the Croatian language and education.
"We are here because there is neither unity nor results in the Croat community," it was said.
Covic declined to directly answer if his party would cooperate with the Democratic League of Croats in Vojvodina (DSHV).
Commenting on the establishment of the new party comprised mainly of former disgruntled DSHV members, DSHV vice president Martin Gabric said "there will be no talks" with them.
DZH is the third party of Serbia's Croat minority and it was established a few months after a conflict in the DSHV which resulted in the expulsion, over accusations of factionalism, or resignations of nearly half the party's members.
The third party of Vojvodina Croats gathers local Croats who declare themselves Bunjevci and Sokci.
The parliament speaker of eastern Croatia's Vukovar-Srijem County, Mato Stojanovic, attended the DZH constituent session, saying that all three parties had Croatia's support because they advocated the preservation of the Croat identity in Serbia.