COMECON


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Related to COMECON: Cominform

Comecon

(ˈkɒmɪˌkɒn)
n
(Economics) (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. Also: CMEA
[C20 Co(uncil for) M(utual) Econ(omic Assistance)]

COMECON

1949 An association of Soviet-dominated nations, originally those of East Europe but later including Mongolia (1962), Cuba (1972), and Vietnam (1978) intended to co-ordinate economic development. Used by Stalin to put pressure on Yugoslavia and to counter growing western economic interdependence.
Translations

Comecon

[ˈkɒmɪkɒn] N ABBR (formerly) =Council for Mutual Economic AidCOMECON m

Comecon

abbr of Council for Mutual Economic AidComecon m or nt

COMECON

[ˈkɒmɪˌkɒn] n abbr =Council for Mutual Economic AidCOMECON m
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References in periodicals archive ?
The league kicks off again tomorrow with the Winners taking on newcomers Walton Neuro, Diamonds kick off their season with a tough game against Comecon, John West
Demand Energy (MTOE) Oil (MTA) 1987 1997 1987 1997 Asia/Pacific 1500 2400 690 1120 World 7350 8500 3000 3400 Comecon decline -550 -250 World increase excl.
But after that, it wasn't just that we had a lack of a concept, there was also the collapse of the COMECON market.
Back in the COMECON days, Cuba got subsidized wheat shipments from Russia, so feed production was cheap.
The main fixture of the night was a tremendous encounter with the top two facing off in the race for Business League glory, Comecon were victorious, winning 8-3 against Macandrews.
Meanwhile, COMECON countries have been given the go-ahead to establish individual relations with Common Market members.
COMECON, the one unifying factor in the structure of trade and manufacturing, is also changing.
Yet, in spite of these loans and joint ventures with Western firms, Hungary conducts around 55 percent of her trade with other COMECON countries -- the major trading partner being the Soviet Union with one-third of total transactions.
Some COMECON members (Poland, Czechoslovakia and Hungary) want to disband the alliance so they can join the European Economic Community; others (Albania, Bulgaria and Yugoslavia) see themselves cast permanently as the "poor men of Europe" without COMECON.
The company trades in natural and synthetic latex, natural and synthetic rubbers, including Russian materials and rubber chemicals, concentrating on the markets in Germany, some in Western Europe, former Comecon countries, North America and Far East Asia.
In the Soviet system, foreign trade did not play a major role, although trading among COMECON countries developed over time.
So far, $14 billion has been invested in the form of direct capital, equity capital investment in the former COMECON countries.