This economic organization was created for the purpose of coordinating the economic development of member countries based on the principles of a centrally planned economy and the development of economic integration with the purpose of gradually equalizing the different economic levels of individual member states.
From the current point of view, it can be concluded that the power aspects were in the foreground, with the effort to create an economically, politically and militarily united block of countries of the "socialist camp".
However, it allowed the member countries to develop trade and international economic cooperation under the conditions of the Cold War, when the countries of the US and NATO were so-called of the communist bloc imposed embargoes on the export of scientific and technical results and strategic raw materials and goods, mainly technologies.
It was supposed to become a counterweight to the Organization for European Economic Cooperation, which was founded by the participants of the countries that adopted the Marshall Plan.
On July 2, 1991, at the proposal of the Czech-Slovak Party and its representatives (Vaclav Klaus, Minister of Finance of the Czechoslovakia and Vladimir Dlouhy, Minister of Economy of the Czechoslovakia), a resolution was adopted in the Federal Assembly of the Czechoslovakia on the agreement on the protocol on the abolition of the Council for Mutual Economic Assistance and on July 12, 1991 approved the wording of the protocol.
With the gradual departure from the principles of a centrally planned economy and the political transformation of the countries, the RVHP disintegrated and was not replaced by any similar organization (Wiki).