Council for Mutual Economic Assistance (CMEA), an international economic organisation of the community of socialist countries based on economic relations of a new type, on principles of fraternal cooperation and socialist internationalism, and on complete equality and comradely mutual assistance of all member countries. CMEA was created in 1949. It now includes the following member countries: Bulgaria, Cuba, Czechoslovakia, the GDR, Hungary, Mongolia, Poland, Romania, the USSR, and Vietnam. Yugoslavia has participated in CMEA on issues of mutual interest since 1964. Representatives from 73 the Democratic People’s Republic of Korea, Laos, Angola, and Ethiopia take part as observers in some CMEA bodies. CMEA is an open organisation. Finland, Iraq and Mexico cooperate with it on the basis of relevant agreements. The formation of CMEA helped deepen the international socialist division of labour (see Division of Labour, Socialist International) and further economic cooperation among the socialist countries. In accordance with the CMEA Charter, the chief purpose of this organisation is to facilitate, through a united and coordinated efforts, the planned and balanced development of national economies, the acceleration of the economic and technical progress, the attainment of a higher level of industrialisation by countries with less developed industry, the steady growth of labour productivity, and the steady improvement of the wellbeing of the peoples of the member countries. The Council Session is CMEA’s highest organ; the Executive Committee of CMEA, consisting of deputy heads of government of the CMEA members, is its chief executive body. The elaboration of measures and drafting of recommendations on economic, scientific and technical cooperation in various sectors or in specific problems is done by the committees and standing commissions, on which sit representatives from each member country. The standing commissions appoint working groups and other auxiliary bodies. The Committee for Cooperative Planning, and the Committee for Scientific and Technical Cooperation were formed in 1971, while 1974 saw the formation of the Committee on Cooperation in Material and Technical Supplies. CMEA’s executive administration, the Secretariat, is located in Moscow. The socialist countries have established the International Bank for Economic Cooperation and the International Investment Bank. The principle of sovereign equality guaranteed to all CMEA member countries is observed by their equal representation on the Council; by the adoption of recommendations and decisions by all interested parties; by their equal rights and obligations with regard to the Council and among themselves. CMEA is making great efforts to establish and advance close ties among the fraternal countries; to develop in every possible way forms of economic cooperation among socialist states: joint planning activity, cooperation and specialisation in production, cooperation in science and technology, joint construction and exploitation of industrial and transport facilities, commercial exchanges, international accounting, etc. In the beginning, CMEA concentrated most of its efforts on the development of trade among the socialist countries. More recently, the coordination of the national economic plans of socialist countries has come into the focus. A great deal of work is being done by CMEA in preparing recommendations on the further expansion of international specialisation and cooperation in production, on the study of scientific and technological problems of common interest, on assistance in the working out and realisation by CMEA members of joint measures in the development of industry, agriculture, transport, and on the most effective utilisation of the capital investments allocated by the Council members for the development of industry and the construction of key facilities, and on the exchange of scientific and technological expertise, of advanced production experience, etc. The Comprehensive Programme for the Further Extension and Improvement of Cooperation and the Development of Socialist Economic Integration by the CMEA Member Countries adopted in 1971 and projected over a 15-20 year period was an important new milestone in these countries’ advance. This programme covers cooperation among the socialist countries in production, science, technology and foreign trade, and involves the "joint development of natural resources for common benefit, joint construction of large industrial complexes to meet the needs of all the partners, and cooperation between our countries’ enterprises and whole industries planned for many years ahead" (Documents and Resolutions. XXVth Congress of the CPSU, p. 12). Currently, the countries of the socialist community 74 united in CMEA represent the world’s most dynamic economic force, and a motivating factor in world politics. Between 1970 and 1980 the economic growth rates of the CMEA countries doubled that of the developed capitalist countries. The socialist community countries remain the most dynamically developing group of countries in the world. The economic potential of the CMEA member countries surpasses those of the USA and the West European countries belonging to the European Economic Community. While expanding economic, scientific and technical cooperation among themselves, as well as with developing and capitalist countries, the CMEA countries are active internationally seeking to strengthen peace and consolidate the positions of world socialism, and supporting peoples fighting for social progress.