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Related to COMECON: Cominform
COMECONCouncil for Mutual Economic Assistance
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Back in the COMECON days, Cuba got subsidized wheat shipments from Russia, so feed production was cheap.
This table compares Asia/Pacific with total world excluding Comecon: Demand Energy (MTOE) Oil (MTA) 1987 1997 1987 1997 Asia/Pacific 1500 2400 690 1120 World 7350 8500 3000 3400 Comecon decline -550 -250 World increase excl.
The disintegration of the Soviet Union and the COMECON in the latter part of the 1980s forced economic and political changes in Mongolia.
One of them is the unexpectedly speedy collapse of the eastern European integration (Council of Mutual Economic Assistance, COMECON), which eliminated the market for a great number of products, forcing many companies specialized in those markets either to turn to other markets (first of all to western Europe, which process was not at all easy) or to decrease production sometimes very sharply.
In the Soviet system, foreign trade did not play a major role, although trading among COMECON countries developed over time.
Kadar: Real-estate prices in Hungary have been much higher in the past 25 years than in any other former COMECON country, so the real-estate business has not been as lucrative for foreign investors as it was in countries where the prices were low.
COMECON is a 10-nation trading partnership formed by the U.S.S.R.
Against this background it is not surprising that the share of goods exchange of European COMECON (Council for Mutual Economic Assistance) countries in the total foreign trade of OECD (Organization for Economic Cooperation and Development) countries, which was still 4.1% in 1975, had dropped to only 2.4% by 1988 and has been stagnating at this low level ever since.
Yet, in spite of these loans and joint ventures with Western firms, Hungary conducts around 55 percent of her trade with other COMECON countries -- the major trading partner being the Soviet Union with one-third of total transactions.
Not surprisingly, Soviet satellite states are also pounding a drum beat for more Western aid in this era of "Detente II." The soundings intensified last summer when the Council for Mutual Economic Assistance (COMECON), the East European trade organization, formally recognized and established relations with the European Economic Community (EEC).
Third, and no less important, Cuba is, with Vietnam and Mongolia, one of the "less developed" members of Comecon. If perestroika means anything, it means an attack on subsidy and an invoking of the principle of "pay your own way." Cubans are sensitive about their dependence on Soviet bloc aid at the best of times.
The possibilities of increased barter trade with the COMECON and other countries should also be explored as this would lead to greater inter-regional cooperation and development.