Chile, New Zealand and Singapore announced their intention to initiate negotiations towards a trilateral closer economic partnership agreement, the Pacific Three (P3) at the APEC meeting in Los Cabos, Mexico in October 2002. On 3 June 2004, the P-3 accepted Brunei Darussalam as a founding member of the Agreement, thus becoming the P4.
Negotiations began in March 2003 and concluded with an agreement on 3 June 2005. At the same time, the Ministers announced the conclusion of parallel negotiations on an Environment Cooperation Agreement and a Labour Cooperation Memorandum of Understanding.
On 18 July 2005, the Agreement was signed by Chile, New Zealand and Singapore. A few weeks later, on 2 August 2005, Brunei signed the Agreement at the New Zealand Parliament, in Wellington.
On 4 February 2008, the United States Trade Representative announced that the United States would join negotiations on investment and financial services set to begin in March between Singapore, Chile, New Zealand and Brunei. The P4 and the United States announced the launch of negotiations for the U.S. to join the Trans-Pacific Strategic Economic Partnership Agreement on 22 September 2008.
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