- an economic association of Communist countries, established in 1949, to facilitate trade and development.
Compare Common Market.
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
- (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
C20 Co (uncil for) M (utual) Econ (omic Assistance)