Over the last decade, international trade in services has been growing at a somewhat higher rate than trade in goods (merchandise trade). The countries in the Asia-Pacific region with the considerable demographic advantages have been significant beneficiaries of the development. Phenomenal growth of services sector has outstripped the growth in real GDP in a number of economies in Asia. Both India and Members of the ASEAN have stakes in the
sector and under the India-ASEAN CECA negotiations are working towards maximizing the potential benefits that may arise out of the integration of the service sectors of the two trading partners.