Thailand and Colombia may join the Trans-Pacific Partnership. The UK is seeking public feedback on the idea, wanting to prevent its isolation from the rest of the world after it exits the European Union. South Korea is said to have contacted multiple members about joining, while Taiwan, eager to counter mainland China's push for its own trade sphere, has shown interest as well.

Mexico, Japan and Singapore have already ratified the agreement, with Vietnam and two others set to do so by year-end. The bloc comes into force 60 days after at least six members ratify it. The Trans-Pacific Partnership has a membership of eleven countries.

A dedicated committee will be set up to iron out the exact process for bringing in newcomers. The bloc will not renegotiate its rules on intellectual property and other trade issues, but tariff rates will be worked out between each existing and new member.

The US pulled out of the original 12-member TPP in 2017 before it could even be ratified. The agreement has now been revived as the TPP-11. Along with reducing tariffs, the agreement will set rules for a wide range of fields, including e-commerce and intellectual property, making exports from members like Vietnam or Chile more competitive within the bloc than those from nonmembers.