Council for Mutual Economic Assistance

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Council for Mutual Economic Assistance (COMECON) International organization (1949–91) aimed at the coordination of economic policy among communist states, especially in Eastern Europe. Led by the Soviet Union, its original members were Bulgaria, Czechoslovakia, East Germany, Hungary, Poland, and Romania; later joined by Cuba, Mongolia, and Vietnam. Cooperation took the form of bilateral trade agreements rather than the establishment of a single market or a uniform price system.

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Council for Mutual Economic Assistance

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Council for Mutual Economic Assistance