This is the biggest free trade deal in the history and the event was hosted by New Zealand .
Trade ministers from 12 countries Australia, Brunei, Canada, Chile, Japan, Mexico, Malaysia, Peru, Singapore, US, Vietnam and New Zealand participated and singed the agreement in the event held in Auckland.
The member countries will be able to make free trade up to 40% of global economy.
The event was led by US and empowers US to write relevant rules for 21st century.
China is not included in the pact. China had not shown any reaction to the deal yet.