Council for Mutual Economic Assistance
Council for Mutual Economic Assistance : The Council for Mutual Economic Assistance, CMEA or COMECON, was established in 1949 ostensibly to create a common market CMEA was a Soviet initiative with Bulgaria, Czechoslovakia, Hungary, Poland, and Romania as founder members The Council was later joined by the German Democratic Republic, Mongolia, Cuba, and Vietnam; Yugoslavia held associate status Members normally received some products, particularly oil and gas, from the former Soviet Union at below-market prices CMEA was succeeded in 1991 by the Organization for Economic Cooperation (OIEC)
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