COMECON

American  

[kom-i-kon] / ˈkɒm ɪˌkɒn /

Or Comecon

noun

1. an economic association of Communist countries, established in 1949, to facilitate trade and development.

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Comecon British  

/ ˈkɒmɪˌkɒn /

noun

1. Also: CMEA.  (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

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Etymology

Origin of COMECON

Co(uncil for) M(utual) Econ(omic Assistance)

Example Sentences

The agency driving to build this unheralded rival to Western Europe's powerful six-nation Common Market is the Council for Mutual Economic Assistance, or COMECON.

From Time Magazine Archive

In June, as the last Chinese aid technicians went home, Hanoi yielded to longstanding Soviet blandishments and formally jumped into Moscow's economic orbit as a member of the Communist trade alliance, COMECON.

From Time Magazine Archive

Hanoi first joined COMECON, the Soviet-bloc economic organization, then signed a 25-year treaty of friendship and cooperation with Moscow in November.

From Time Magazine Archive

Gorbachev also hinted that he would like to see direct relations, presumably to facilitate commerce, between the European Community and COMECON, the East bloc trading group.

From Time Magazine Archive

Despite the military and political uncertainties brought about by Romania's independent stance in the Warsaw Pact and COMECON, the country has enjoyed a rapid economic growth rate.

From Project Gutenberg