The United Kingdom has expressed interest in joining the revamped TPP trade deal, even before the 11 nation agreement has been ratified. Now known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership it’s expected to come into force next year.

Japan and Mexico have ratified the treaty and it needs another four other signatories to ratify before it starts. The UK first wants to seek free trade deals with the United States, Australia and New Zealand. It sees these as crucial and strategic economic relationships that must continue on a sound footing after Brexit. It then wants to go further and break new ground and be at the heart of the world’s fastest growing region and be part of the CPTPP. This covers markets across the world from Canada to Chile, Mexico to Vietnam. The agreement reduces 95 per cent of tariffs along with other barriers to trade.

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.