The Masters of Time (Les Maîtres du temps) is a 1982 French-Hungarian animation directed by Rene Laloux and designed by Moebius. One of the most beautiful, surrealistic and humanistic pieces of animation in history. Is availiable on youtube also in Russian and English.

Fehérlófia (Son of the White Mare) is a ~1980 Hungarian animation by Marcell Jankovics. Based on Laszlo Arany work and ancient Hunnic and Avaric legends. Full of colourful symbolism. 

The Caliph Stork (1981). Soviet animation directed by Valery Ugarov based on William Hauff's fairy tale. Recommended to people who are fond of Szymanowski's music. Video with English subtitles can be found on youtube.

Sed uz slieksna pasacina (A fairy tale is resting at my door). A 1987 Latvian animation by Rosalia Stiebra. Magic songs written by Zigmar Liepins to the poems of Elsa Rosenberg.  What people usually say about it is that they saw it in their childhood and since then could not forget it. Luckily, nowadays we have youtube and many old beautiful things can be watched again!

Suur Tõll (Tõll the Great). A 1980 animation by Raamat Rein based on Estonian myth about a great giant Toell who lived on the island of Saarema. Picturesque images and music by Lepo Sumera and scary, true spirit of MYTH! 

The Magic Flute) Really magic) By BBC and Valery Ugarov. Watch!