jan 25, 1949 - Comecon created

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In January 1949 it also established Comecon – the Council of Mutual Economic Assistance – to administer its own Molotov Plan of financial aid to keep the Eastern Bloc countries on side. Bulgaria, Czechoslovakia, Hungary, Poland and Romania all joined the Soviet Union in this group and were joined by Albania and East Germany shortly after. The group was not as successful as it might have been as the USSR dominated in terms of industrial production and total economy size, however all countries were committed to Communist economic theory such as state-ownership and state-planning of the economy. The group became more important after Cominform disbanded in 1956.

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