"We want Bosnia and Herzegovina to be inside its internationally recognised borders, going along the path towards the European Union and NATO, and we want it to be organised in such a way to facilitate that progress. A rational structure of Bosnia is also the story of the third entity," Covic said in an interview with the Sarajevo-based "Dnevni Avaz" daily on Monday.
He dismissed accusations that such proposals were pushing local Croats into radicalism.
Covic said that the HDZ BiH would not create any obstructions or negative atmosphere.
He said that his party held that the key to a sustainable Bosnia and Herzegovina was that all three constituent peoples enjoy equal rights, which could be achieved by organising the country into four or five federal units or five regions.
"It is too early to discuss this issue, as we have not yet sat at the table to talk about it," the Bosnian Croat politician said, adding that at the moment it was most important to set up executive authorities in accordance with results of the general elections of 3 October.
"This time the chairman of the Council of Ministers of Bosnia and Herzegovina must be a Croat, and evidently it can only be an HDZ BiH representative," Covic said, adding that talks could be held on concrete candidates.
He said the application of the principle of national rotation must continue when it came to top offices in the country.