An economist says while the PACER-Plus trade agreement allows Australia and New Zealand to strengthen their influence in the region, there are also benefits for smaller Pacific states.
Eleven nations have signed up so far and are now sorting out their domestic laws to fit the agreement's terms, which are framed around prosperity and economic development.
The agreement only needs eight nations to ratify, with no set timeframe for ratification.
But despite being involved in negotiations, two of the biggest island economies, Fiji and Papua New Guinea, are yet to sign and critics say the agreement is unfair.
Dr Wadan Narsey, a former Fiji economics academic, now adjunct professor at Swinburne and James Cook Universities in Australia, told Sara Vui-Talitu the fact other small island states have given it the nod, means the deal will bring gains.