The Croatian delegation will be led by Economy Minister Ivan Vrdoljak and HGK president Luka Burilovic, while the Russian delegation will be led by the Economic Development Ministry's director for Europe, North America and international organisations, Sergey Karaulov, Chamber of Commerce and Industry president Sergey Katyrin and Moscow Entrepreneurs Association president Andrey Podenok.
The Russian market is very important for Croatian companies, notably those in the pharmaceutical and food industries, construction, and machinery manufacturing, the HGK said.
Croatia-Russia trade in the first ten months of 2014 rose 25 percent on 2013, with Russian exports amounting to US$ 1.05 billion and Croatian exports $283 million.
Business people from both countries suffer because of the sanctions the European Union imposed against Russia last summer, so the forum will provide an opportunity to set the foundations for future cooperation.
Minister Vrdoljak said all European companies are trying, despite the difficulties, to continue economic cooperation in the areas not covered by the sanctions.
"Croatian companies are doing the same. We can't wait for the sanctions to pass and then expect just to move on from where we were before the sanctions. A whole series of companies outside the EU market can't wait to take our place. That's why the Forum has two objectives, keeping economic cooperation, but also finding room for improving those relations in the future," he said.
Burilovic underlined the need to support domestic companies. "Croatian business people who put a lot of effort and resources to break through on the Russian market now need help and support in keeping their positions."
In response to Croatian companies' increased interest in strengthening business cooperation with Russian partners, the HGK has and will support its members, notably through its Moscow office and its Business Council for Economic Cooperation with the Russian Federation, he said.
The HGK said its Moscow office played a significant role in the search for business partners and the signing of contracts.
As for important contracts expected to be realised this year, Croatia's Klima Oprema/Proklima has arranged cooperation with Russian investor KUB Design in the construction of a trade and business centre in Krasnogorsk; the Kedobet company has arranged a joint investment in the construction of an additives factory expected to manufacture EUR 100 million worth of products annually; and the Sardina company will export three million cans of fish to Russia this year alone, worth EUR 2 million.
The Croatian delegation's visit to Russia has elicited different reactions.
It's clear that in Ukraine we are faced with a difficult situation resulting from Russia's attempts to destabilise that country. It's a situation we know the Croats sympathise with. The US and the EU are united by the need to see to it that Russia pays for the price of its moves in Ukraine and we are grateful that Croatia firmly supports our joint approach, US Ambassador to Croatia Kenneth Merten said last week.
We know the sanctions are affecting our business interests, European and American, but the US and the EU share the position that economic pressure is the best means to defuse tensions and find a political solution. In that context, we have expressed concern that the size, scope and timing of the planned Croatian business delegation to Russia, which is expected to be joined by a senior government official, are sending a mixed message at a critical moment. The US believes that now is not the right time for usual business contacts with Russia, Merten said.
On Friday, opposition leader Tomislav Karamarko agreed with him, saying that "in the current situation, we, as a NATO member, must know how to behave accordingly."
Vrdoljak said on Friday he was "having intensive communication with the US Embassy and US officials", that as a NATO and EU member Croatia would respect all decisions and sanctions against Russia, but that it would also look after its economic interests on the Russian market.
He said the forum in Moscow would not be a political but a business event which he had a duty to attend together with Croatian business people active on the Russian market, "so they could establish contacts" and increase their presence there.