Comecon, formally the Council for Mutual Economic Assistance, was an economic organization formed in January 1949 by the Soviet Union together with Bulgaria, Czechoslovakia, Hungary, Poland and Romania, joined shortly after by Albania and later East Germany, as the Eastern Bloc's answer to the Marshall Plan and the Organisation for European Economic Co-operation in Western Europe. It coordinated trade and economic planning among its centrally planned member economies, whose membership eventually extended beyond Europe to Cuba, Mongolia and Vietnam. Comecon was formally dissolved on 28 June 1991 as the Soviet bloc's command economies gave way to market reforms.
Facts
Founding Year Headquarters Classification
Institution SubtypeInternational Financial Institution 1 Chronology
Dissolved Year In the Other Atlases
Located In
Also in Geography Atlas: where this subject is located.
Sources
1. Comecon, Wikipedia
Foundation
The Comecon was founded in 1949 by the Soviet Union, Bulgaria, Czechoslovakia, Hungary, Poland, and Romania.
Headquarters
Moscow, Soviet Union
Introduction, institution-subtype-p2
The descriptive term was often applied to all multilateral activities involving members of the organization, rather than being restricted to the direct functions of Comecon and its organs.
In Group: Economic Unions and Stability Facilities of Europe and Eurasia, Lead
The Council for Mutual Economic Assistance, often abbreviated as Comecon ( KOM-ik-ON) or CMEA, was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that comprised the countries of the Eastern Bloc along with a number of communist states elsewhere in the world.
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