On December 15, the UK officially became the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the largest trade agreement reached since Brexit, as the UK hopes to deepen its ties with the Indo-Pacific region and build its global trade links after Brexit. Joining the agreement means that the UK will be able to apply CPTPP trade rules and reduce tariffs with 8 of the current 11 members: Brunei, Chile, Japan, Malaysia, New Zealand, Peru, Singapore and Vietnam.

The CPTPP does not have a single market for goods or services, so it does not require unified regulation, unlike the EU. The British government estimates that in the long run, the CPTPP could be worth £2 billion a year, less than 0.1% of GDP.