New Delhi, Mar 11 (KNN) With an aim to expanding trade and economic cooperation between India and the ASEAN countries, the government has identified priority sectors for trade expansion.

The priority sectors would include machinery and its parts, transport equipments, petroleum and its products, electronic goods, agro industries, gems and jewellery, steel and its products, oil cake, wheat, meat and its products, automobiles and auto components, chemicals, synthetic textile, drugs and pharmaceuticals, according to an official statement.
Meanwhile, India's exports rose by 4.25 per cent to USD 26.26 billion in February. The overseas shipments in February 2012, stood at USD 25.19 billion.
“Exporting sectors which performed well include engineering goods, textiles, rice, oil meals, pharmaceutical and chemicals,” said the Commerce Secretary S R Rao today.
India had already signed an agreement on trade in goods under the broader framework of a Comprehensive Economic Cooperation Agreement (CECA) with the ASEAN counties on Aug 13, 2009 to promote trade, according to an official statement.     
Further, India and the ASEAN counties have also concluded negotiations on agreement on trade in services and investment in Dec 2012. 
Keen to build good trade relations, India has also entered into CECAs with Singapore and Malaysia which came into effect on Aug 1, 2005 and Jul 1, 2011 respectively, according to the Ministry of Commerce and Industry. 
Earlier, India and Thailand signed a Framework Agreement (Early Harvest Scheme) on Oct 9, 2003. Both the counties are presently negotiating a comprehensive India-Thailand Free Trade Agreement. 
India and Indonesia have also agreed for negotiating a CECA. (KNN/Gunj)