The Council for Mutual Economic Assistance was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that comprised the countries of the Eastern Bloc along with a number of socialist states elsewhere in the world.

What was Comecon and why was it formed?

Based in Moscow, Comecon was founded in April 1949, partly in response to the Marshall Plan, instituted two years earlier, for rebuilding Western Europe. Comecon's purpose is to promote coordination in economic planning, trade, research and development.

When did Comecon happen?

Comecon, byname of Council for Mutual Economic Assistance (CMEA), also called (from 1991) Organization for International Economic Cooperation, organization established in January 1949 to facilitate and coordinate the economic development of the eastern European countries belonging to the Soviet bloc.