Comecon

Comecon was an economic organization that was formed by the government leaders of Yugoslavia, Bulgaria, Hungary, Czechoslovakia, Poland, Romania, and the Soviet Union. They formed this group in 1949 to help the countries share resources, technology, and knowledge. It was intended to help these countries to become more developed and to help eliminate poverty, while at the same time, helping to increase trade and economic cooperation between the member countries. Each member country had to agree to trade with each other and follow the same economic policies. This allowed for the countries to become more self-sufficient in terms of resources, and allowed for economic growth in those countries. Comecon ended in 1991 when the Soviet Union fell apart.