The conference will be organised by the Association BiH 2005, which is chaired by Petritsch, who said the conference would also address regional cooperation in Southeast Europe.
He said the Trebinje area in southern Bosnia was very important for cooperation with neighbouring countries like Croatia and Serbia-Montenegro.
According to Petritsch, Bosnia needs a democratic revolution which will eliminate the predominance of ethnic principles in favour of civil ones.
Petritsch said Bosnia did not need a new Dayton agreement, which ended the war in the country in 1995, but attempts to create a functional state and administration.
Petritsch also said the Dayton agreement was a straitjacket which prevented Bosnia from progressing.
He said the straitjacket symbolised several levels of government and spending 70 per cent of the budget on administration, which he added hampered the country's development.
One-hundred-fifty prominent Bosnian and international officials have been invited to the Geneva conference, including the chief prosecutor of the Hague war crimes tribunal, Carla del Ponte.