Comecon

• Comecon stood for the Council for Mutual Economic Assistance
• Comecon was established in January 1949
• Comecon had seven members
• Comecon was in direct competition to the Marshall Plan and aimed to support economic development in its member states
• 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
• Comecon arranged trade and credit agreements however trade with the West was discouraged