Organization for International Economic Cooperation (OIEC)
Organisation pour la coopération économique internationale
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Feb 1991, replacing H-XC0432 - Council for Mutual Economic Assistance (CMEA), sometimes referred to as 'COMECON', which had been set up Jan 1949, Moscow (USSR). Also known as Organization for Economic Cooperation (OEC). Transition from CMEA to the new organization was expected to take 2 years, but the splitting of the Soviet Union into its republics and the formation, Dec 1991, of the F-XF2417 - Commonwealth of Independent States (CIS), virtually suspended development of OIEC.
In an advisory rather than a prescriptive capacity, maintain the tradition of economic links between member countries and between firms and industrial sectors across the region through promoting cooperation on a market basis rather than through the coordination of centrally planned economies. Integrate members in European and other regional economic bodies.
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