A deal has been struck between the Greens and National to set up a regulator for natural health products.

Green MP Sue Kedgley says it'll be a stand alone agency with the Ministry of Health responsible for overseeing the natural health products industry in New Zealand.

The concept's been worked on since the collapse of trans-Tasman therapeutics legislation four years ago.

Ms Kedgley says the aim is to have a New Zealand based regulator.

";The system that, while it would assure consumers that their products are safe, would not be heavy handed and put small New Zealand innovative natural health businesses out of business.";

She says legislation setting up the agency will be introduced to Parliament before the election but won't become law until the next term of Government.

- Newstalk ZB