According to the Kyodo news, the current 11 members of the Trans-Pacific Partnership (TPP) began discussing the United Kingdom’s bid to join the trade pact. If approved, the UK will be the 12th member since the creation of the TPP in 2018. At the time of this post, China and Taiwan have also submitted applications to join the free trade agreement.
While typically known as the TPP, the official name is called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP. The chair of the organization rotates and the current chair is Japan.
Entry to the CPTPP requires applicant countries to revise their domestic laws and regulations to meet TPP criteria. If approved, the UK will join Brunei, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.