Asean and India signed a Framework Agreement for Comprehensive Economic Cooperation Agreement (CECA) on October 8, 2003. In 2003, only the goods trade was negotiated at the first instance and the services and investment trade is under negotiation.
Under the Framework Agreement Asean and India agreed to negotiate a Free Trade Agreement covering trade in Goods, trade in Services and Investment.
International Trade Law includes the appropriate rules and customs for handling trade between countries. However, it is also used in legal writings as trade between private sectors, which is not right.
This branch of law is now an independent field of study as most governments has become part of the world trade, as members of the World Trade Organization (WTO).
Since the transaction between private sectors of different countries is an important part of the WTO activities, this latter branch of law is now a very important part of the academic works and is under study in many universities across the world.