Established in January 1949 as a non-voluntary association of communist countries trading with each other, often by exchanging commodities instead of buying and selling. Comecon was formally dissolved in June 1991 as part of the transition process towards new international financial relations between the former Soviet Union and Eastern Europe. Founding members of Comecon were the Soviet Union, Bulgaria, Czechoslovakia, Hungary, Poland and Romania; subsequent members included the then German Democratic Republic, Mongolia, Cuba, Vietnam and Albania. Comecon provided a framework for trade and cooperation but never functioned as a 'common market'. Abbrev. Comecon.
