Meetings over the TPP, ditched by U.S. President Donald Trump in one of his first acts in office, have been held on the sidelines of Asia Pacific Economic Cooperation (APEC) meetings in the Vietnamese resort of Danang.
"Asked by reporters about the results of a meeting of TPP ministers, Japanese Economy Minister Toshimitsu Motegi said "(they) agree in principle", adding that the ministers had finalised "a list of suspensions" - clauses that would be suspended to avoid renegotiating the whole agreement.
International Trade Minister Francois-Philippe Champagne has said Canada wants the updated TPP to contain progressive chapters on the environment as well as workers' and women's rights.
So, for example, if you're running a country that's not getting along great with another country - to the point where a state visit would be awkward and unlikely - significant progress can be made in brief meetings at a regional summit. Mexican Economy Minister Ildefonso Guajardo also said that the countries had reached a deal, though he gave no other details.
The deal is a major achievement for the "TPP 11", which spent months trying to salvage the pact after the USA pulled out when President Donald Trump took office.
The official acknowledged a couple of people around the table might say Canada is being obstructionist, but that it's probably due to their own domestic pressure to sign the deal.
Canadian Prime Minister Justin Trudeau did not show up for talks between the remaining 11 nations in the TPP.
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"Unfortunately in between that meeting and the meeting of leaders today, Prime Minister Trudeau raised a number of issues which meant that we were unable to the leaders meeting forward today".
"We believe TPP is important for the region".
Sharing the view, PM Trudeau said that the Canada-Vietnam comprehensive partnership will be an important legal framework for the two countries to further foster their existing cooperative ties in all fields. The TPP would improve market access and support the rule of law - and the world was "dangerously short of both", he said.
Vietnam, projected to see economic growth this year of 6.3 per cent, features a sturdy consumer base, an emerging business class and an expanding footprint in supply chains.
"Culture is more than just an economic good", he said.
"We are at the table, we're being constructive, we're being creative but let's be honest, some are hard discussions", Champagne said.
Peru meanwhile is more focused on talks toward a trade-and-investment agreement between a smaller group of countries than trying to save the TPP without the USA, a Peruvian official said, speaking on condition of anonymity.