Abstract
International trade flows are penetrating deeper into the working of developing economy, because developing countries particularly Asian nation are fastest growing market for the product of multinational corporations. This causes overall changes in productivity growth, income distribution and employment pattern in general. Trade in goods and service has grown twice as for global GDP in the 1990's and the share attributes to developing countries has climbed from 23 to 29 percent only. As Asia concerned the total Export of Merchandise & Commercial services in 2005 was 2773 Billion dollars & 543 Billion dollars & total Import of it was 2599 Billion dollars & 595 Billion dollars. This indicates the share of Asia in world export & import of merchandise was 27.3% & 24.7% and that of commercial services was 22.4% & 25.2%. This clearly indicates that compositional change does not occur predominantly for the last ten years, which offer new opportunity for growth to the Asian economies.
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