U.S. Commerce Secretary Mickey Kantor signed an investment agreement with Croatia on Saturday, wrapping up a trade mission to the Balkans that promised millions of dollars in investment and reconstruction aid.
In a separate deal, two U.S. firms agreed in principle on the construction of two power plants in Croatia.Kantor, on the third and last day of a visit to Croatia and Bosnia, was completing a mission started by his predecessor Ron Brown.
During the trip, Kantor and representatives of 18 U.S. companies promised reconstruction aid and investment in the Bosnian and Croatian economies.
"Over the last 72 hours we've turned promise into performance and hope into reality," Kantor said after signing an agreement in which Croatia and the United States promise to mutually encourage and protect investments. It has no specific monetary value.
During his visits to Dubrovnik on Thursday and the Bosnian capital Sarajevo on Friday, Kantor announced U.S. funding for road and rail construction and training of air traffic controllers. Many projects will embrace both Croatia and neighboring Bosnia.
Agreements in principle also were signed in Zagreb on Saturday under which the U.S. firms Enron Development Corp. of Houston and Enserch International Ltd. of Dallas would participate with the Croatian national power company in building two thermo-electric power plants worth $1 billion.