In the 21st century, every Economy is trying to enhance its growth and development. It is clear that for the rapid economic development trade plays an important role, and it has also been called trade as the engine of growth. Since trade is the main determinant of economic development and now-a-days South-East Asian Nation has become an important has become an important zone because of its market and growing economy. India announced its Look-East Policy in 1991, which is an attempt to increase its engagement with the East-Asian countries. ASEAN, which is a geo-political and economic organization with 10 members, which was formed in August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then the membership has expanded to include Brunei-Darussalam, Cambodia, the Laos Peoples democratic republic Myanmar and Vietnam.