The agreement, signed in Kiev on Thursday during the official visit of Croatian President Stjepan Mesic, defines areas of cooperation and provides for the exchange of information on joint projects.
The focus of the agreement is on long-term projects aimed at boosting trade between the two countries, the HBOR said in a statement.
Last year's trade between Croatia and Ukraine amounted to US$80.4 million, which was an increase of as much as 72 per cent from 2003. Croatian exports to Ukraine totalled $12.9 million and imports $67.4 million.
Trade continued to grow in the first four months of 2005, when it reached $40.1 million, an increase of as much as 181.4 per cent from the same period last year.