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The Council for Mutual Economic Assistance and the European Community

After nearly 15 years of official and unofficial contacts and negotiations, on June 25, 1988, representatives of the European Community (EC) and the Council for Mutual Economic Assistance (CMEA or COMECON), meeting in Luxembourg, signed a Declaration establishing official relations between the two parties so as to “develop cooperation in areas which fall within their respective spheres of competence, and where there is common interest.”