The UK has formally signed the treaty to join a major trans-Pacific trade pact, becoming the first new country to take part since its inception in 2018 and opening the way for members to consider other applications including from China.

The signing was part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) commission meeting being held in New Zealand.

UK Business and Trade Secretary Kemi Badenoch said at the signing that her country was delighted to become the first new member of the CPTPP.

"This is a modern and ambitious agreement and our membership in this exciting, brilliant and forward looking bloc is proof that the UK's doors are open for business," Badenoch said.

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The CPTPP is a landmark trade pact agreed in 2018 between 11 countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Britain will become the 12th member of the pact that cuts trade barriers, as it looks to deepen ties in the Pacific after its exit from the European Union in 2020.

The pact still needs to be ratified by the UK government, as it looks to deepen ties in the Pacific after its exit from the European Union in 2020.

It will bring marginal gains to the UK economy, with the government estimating that membership of the bloc will only add 0.08 percent to GDP in a decade - less than one-twelfth of a percent. 

Members of the pact said on Sunday they were gathering information on other countries interested in joining the agreement, including China, to see whether they were able to meet the pact's "high standards."

The CPTPP requires countries to eliminate or significantly reduce tariffs, make strong commitments to opening services and investment markets and has rules around competition, intellectual property rights and protections for foreign companies.

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