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COMECON

or Com·e·con

[kom-i-kon]
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noun
  1. an economic association of Communist countries, established in 1949, to facilitate trade and development.
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Origin of COMECON

Co(uncil for) M(utual) Econ(omic Assistance)
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for comecon

Comecon

noun
  1. (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 membersAlso: CMEA
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Word Origin

C20 Co (uncil for) M (utual) Econ (omic Assistance)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012