Comecon

• 1.Comecon stood for the Council for Mutual Economic Assistance.
• 2.It was established in January 1949.
• 3.It had seven members.
• 4.It was in direct competition to the Marshall Plan and aimed to support economic development in its member states.
• 5.It arranged trade and credit agreements and trade with the West was discouraged.
• 6.This brought Eastern economies more closely under Soviet control: Bulgaria’s trade with other Comecon members increased from 10% in the 1930s to over 90% in 1951.
• What does Comecon stand for?

  Council for Mutual Economic Assistance
• When was Comecon established?

  January 1949
• How many members did Comecon have?

  Seven members
• What was the main aim of Comecon?

  To support economic development in member states
• How did Comecon relate to the Marshall Plan?

  It was in direct competition to the Marshall Plan
• What types of agreements did Comecon arrange?

  Trade and credit agreements
• What was discouraged in Comecon's trade policies?

  Trade with the West
• How did Comecon affect Eastern economies?

  It brought them more under Soviet control
• What was the increase in Bulgaria’s trade with Comecon members from the 1930s to 1951?

  From 10% to over 90%