Comecon


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Related to Comecon: Cominform

COMECON:

see Council for Mutual Economic AssistanceCouncil for Mutual Economic Assistance
(COMECON or MEA), international organization active between 1956 and 1991 for the coordination of economic policy among certain nations then under Communist domination, including Albania (which did not participate after 1961), Bulgaria,
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Comecon

(formerly) an association of Soviet-oriented Communist nations, founded in 1949 to coordinate economic development, etc.; it was disbanded in 1991 when free-market policies were adopted by its members
References in periodicals archive ?
Even after discounting the Comecon decline, the Asia/Pacific region has provided over half the growth in total world energy consumption in the past decade and over two-thirds of world oil demand growth.
Former Comecon countries are, in addition, carrying a huge economic and psychological legacy from the past.
Recently, a commission within COMECON has been formed in an attempt to reform the organization, but Professor Andrzej Lubbe, Poland's representative, notes that "COMECON was the handmaiden of a specific political system, and it was the political system and not COMECON itself which determined the scope and form of cooperation.
Similar transactions were made by all the other European COMECON countries.
Increasingly, however, American business interests are dissatisfied with countertrade, desiring in its place the translation of ruble profits into use in other COMECON countries.
Declining ore production by the Soviet Union's Nikopol complex coupled with poor grades at the Chiatura mines, has resulted in drastic reductions in Soviet exports to Comecon.
Meanwhile, COMECON countries have been given the go-ahead to establish individual relations with Common Market members.
However, Cuba is not ossified in the way that some Comecon nations are.
A second was the collapse of the Comecon (Council for Mutual Economic Cooperation) bloc in 1990-91 and that of the Soviet Union in 1991.
In the Championship, Comecon carried on their fantastic start the season by beating School of Science 16-8, recording their fourth win from four.
It's no secret that more than 20 years after the breakup of the COMECON and the transition of our economies towards market principles, many Russians still have good memories of quality Bulgarian goods," His Excellency said Saturday, as quoted by Focus.
Division One leaders Wellington FC, stretched their lead at the top as Jamie Breeze hit a hat-trick and Kieran Delaney added another, in a 4-0 win against Comecon.