러시아ㆍ유라시아

This paper describes trade and payment relations through the Council for Mutual Economic Assistance (CMEA). CMEA was founded in 1948 as a response to the Marshall Plan of USA. USSR and CMEA member countries wanted to promote integration developing bilateral and later multilateral relations among Socialist countries. Although in principle CMEA was a multilateral trade and payment agreement, the USSR and Eastern European economies were not practically integrated with each other through CMEA. In reality, CMEA exchange took the form of bilateral negotiated trade. Using monopoly position in CMEA, USSR maintained the political leverage in Eastern European countries at the expense of the its resources as hard/soft goods exchange could have applied its bargaining power to facilitate differential CMEA terms of trade. In short, CMEA trade was characterized by a pattern of trade with the Soviet Union in the center as the main provider of raw materials and energy. It delayed the necessary reforms in CMEA member countries. Also the CMEA countries have not exploited their market potential. Energy crisis and its economic difficulties of USSR were unable to support CMEA member countries and finally terminated the CMEA regime.