Trade in Textiles and Apparel Goods

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) market for textiles is large. For example, the eleven Parties – without the US – buy 21% of world imports under Harmonized System (HS) Chapter 60 comprising knitted or crocheted fabrics (Table 8.2). Chapter 60 includes both final products and components in a vast range of goods. In other words, a producer in the CPTPP zone able to meet the rule of origin for Chapter 60 will automatically obtain preferential access (lower import taxes and simplified procedures) to 20% of the world buyers. This can boost both domestic and foreign investment.