OEC (New Union)

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Organization for International Economic Cooperation
Flag of the Organization for International Economic Cooperation.svg
Abbreviation OIEC, OMES, ОМЭС
Founded 16–18 December 1991
Dissolved 28 June 1991
Type Economic union
Headquarters Moscow, Soviet Union
Membership

The Organization for Economic Cooperation, abbreviated as OEC, OES, or ОЭС, is an economic organization led by the Soviet Union. Members include the former Eastern Bloc and various Soviet-aligned countries around the world.

The OEC was conceived by Mikhail Gorbachev as a replacement to Comecon. Unlike Comecon, the OEC sought to promote economic cooperation through market economies rather than central planning. The first session of the OEC took place in Moscow in December of 1991.