We examine the construction of a pan-European economic space from the perspective of the activities of the Liaison Committee of the International Chamber of Commerce with the Chambers of Commerce of the Socialist Countries. We make three important contributions. First, we show that the Cold War does not mark the end of economic exchanges between Eastern and Western Europe but is part of a longer history in which Eastern Europe was an economic periphery of Western Europe. Second, we emphasise that some Eastern European actors from Czechoslovakia and Hungary used the Committee to develop their contacts with the West and gain some independence vis-à-vis the Soviet Union. Western European businessmen also sought to expand their sphere of influence in Eastern Europe, to the detriment of their American competitors. Third, we highlight the complex relationship between states and business in both blocs and the porosity between ‘political’ and ‘economic’ issues during the Cold War.