The agreement was reached at a seminar on social partnership in Croatia and the European Union which was held in Karlovac, about 50 kilometres southwest of Zagreb.
Speaking to reporters after the seminar, participants declined to reveal any details of how the wage policy agreement would be formulated.
Earlier in the day, Prime Minister Ivo Sanader called on the social partners to hammer out an agreement that would ensure slower growth of wages than that of Gross Domestic Product.
"It is a big job that will not be easy to do, but we have to do it. It is good that we have raised this issue," the Deputy Prime Minister and head of the Economic and Social Council, Jadranka Kosor, told reporters after the seminar.
Kosor said that the social partners would agree a framework for the start of work on the wage policy agreement at the next session of the Economic and Social Council.
Four of the six trade union federations backed the proposal for the national agreement on wage policy, while the Independent Trade Unions and the Association of Workers' Trade Unions said they were ready for talks, but that the rise in living costs should be limited first.
The head of the Croatian Association of Trade Unions (HUS), Zdenko Mucnjak, said that the aim of the agreement on wage policy was not to limit wage growth, but to put the whole wage system in order, which he said was now "in a state of anarchy".
The Employers' Association (HUP) supported the proposal for wage restrictions, saying that it would help strengthen the Croatian economy.
The one-day seminar was organised by the government's Office for Social Partnership.