The region belonged to Romania between World War I and World War II, but was annexed by the Soviet Union in 1940. Large industrial associations created by economic reforms in the late 1960s ostensibly to assume some of the decision-making authority of the various economic ministries. They had little real autonomy. Comecon Council for Mutual Economic Assistance. Members are Bulgaria, Cuba, Czechoslovakia, German Democratic Republic, Hungary, Mongolia, Poland, Romania, Soviet Union, Vietnam.
Purpose is to promote economic development of member states through cooperation and specialization.
Black Sea coastal lands lying south of the Danube in southeastern Romania and northeastern Bulgaria. Extensive economic development Expanding production by adding resources rather than by improving the efficiency with which these resources are exploited. GATT General Agreement on Tariffs and Trade. An international organization established in 1948 and headquartered in Geneva that serves as a forum for international trade negotiations. GATT members pledge to further multilateral trade by reducing import tariffs, quotas, and preferential trade agreements and promise to extend to each other any favorable trading terms offered in subsequent agreements with third parties.