Comecon


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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
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
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.
But the high-growth Mongolian economy was amalgamated to the economies of the COMECON and was totally unprepared for the abrupt destruction of it.
Those products of the heavy industry and machine industry which were characteristic of COMECON trade have given way to more consumer-oriented products both for exports and internal use.
"Trading in COMECON," one insider observed, "is like selling a dead dog in return for two dead cats." Economic reformers within the Soviet Union want to sell Soviet gas and mineral ores for western hard currency.
In the social reality of the European COMECON countries, however, transition can only be achieved in stages.
This is somewhat perplexing, but the answer may lie in the fact that Hungary's ruble-dominated trade surplus with the Soviets would turn overnight into a $1.5 billion deficit if it had to pay for oil and gas with hard currency rather than through COMECON's system of transfer rubles [1].
COMECON is very cognizant of the pending implications of 1992, when EEC states are to begin tearing down the walls of trade protectionism among themselves by eliminating tariffs.
However, Cuba is not ossified in the way that some Comecon nations are.
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.
The Mission, Lower Rudyerd Street, North Shields, has been a base for social enterprises (employee- owned and run businesses) for a number of years, but its future hung in the balance after previous owners Comecon went into voluntary liquidation.