Damien O'Connor on NZ-UK trade deal - 'Devil's always in the detail'

Minister for Trade Damien O'Connor. Photo / Supplied

Zero-tariff trade talk between the UK and Australia has some hoping a similar deal can be achieved for Kiwi farmers, but Minister for Trade Damien O'Connor says there will not be a one-size-fits-all deal.

"There's a different basket of goods to offer and to trade," O'Connor told The Country's Jamie Mackay.

New Zealand wasn't the same size as Australia and offered a different market potential for the UK, O'Connor said.

"We come from the same part of the world, there are traditional links, but we have to negotiate our own trade agreement."

A free trade deal with the UK was a work in progress, and the Government wasn't going to "compromise quality for speed."

There was some momentum off the back of the Australia-UK deal, which was putting pressure on New Zealand officials who still needed to work through the details, O'Connor said.

"The devil's always in the detail when it comes to trade agreements."

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While O'Connor believed he could get "close to an agreement in principle" there was no commitment to sign, as it would all depend on the final deal.

"There are some indications of some very positive progress to be made in this and we need to secure the rules of trade with what is a very traditional and valuable market."

O'Connor wouldn't speculate on which exports would be the "winners" from the deal but he said there was "lots to be gained" from having more open borders and fair trade.

While the agreement with the UK seemed to be making progress, trying to negotiate with the EU would be a challenge, O'Connor said.

"[It's] always difficult to get approval from not just one country, but a number of them."

The EU was a bigger, high-value market, with a potential to grow New Zealand's exports volume – within reason, O'Connor said.

"Not swamp the market, as some might fear, but actually just to grow the opportunities."

Also in today's interview: O'Connor talked about Fieldays and the return of Winston Peters.