"Britain, it is true, has been a strong supporters of those negotiations but so have other countries," Mr Downer said on Friday. "It has been overwhelmingly supported across the European Union as an initiative.

"So we would expect those negotiations to continue, not being too seriously affected."

Any deal with the EU would have big implications for Australian farmers which have long been pushing for lower tariffs and greater access to a European market of some 500 million customers.

According to the European Commission, Australia ranked as the EU's 21 largest trade while the EU represented Australia's third largest trading partner after China and Japan in 2014. Total trade in goods amounted to €38.7 billion in 2014.

Former NSW premier Nick Greiner, who chairs the European Australian Business Council, said the referendum result did not change the economic case for an Australia-EU trade deal.

"I think the case for a free trade agreement remains and I wouldn't have thought [Brexit] would fundamentally change either our approach or the EU approach," he said.

"Whether it makes it slightly harder because we don't have British assistance I don't know but I wouldn't rate that [risk] highly."


Britain's decision to leave the EU could also have implications for tough visa regulations for Australian workers earning less than earn less than £35,000 per year.

Unable to reduce European migrant numbers because of EU rules allowing the free movement of people within the bloc, the UK government has imposed greater restrictions on non-EU arrivals over the past two years in an attempt to cut net migration.

Former London mayor Boris Johnson and Justice Secretary Michael Gove, the two senior Conservatives who led the successful Leave campaign, have pledged to introduce a "genuine Australian-style points based immigration system" by the 2020 general election.

Daniel Hannan, a Conservative member of the European Parliament, said during the campaign that kicking Australians out of Britain because of growing EU migrant numbers was "immoral."



"One of the first things I would like to see after we've left is a free movement area with Australia and New Zealand," he told Fairfax Media.

Since 2008 there has been a 40 per cent drop in the number of Australians working in the UK.

Mr Downer, who has previously urged the UK government to reconsider the restrictions, said it was "far too early" to say if Brexit would liberalise movement of people between the UK and Europe.

However, he added that "we will try to maximise our opportunities and the promotion of our national interest in this changed circumstance".

"Obviously, we look for opportunities wherever they may exist. The circumstances have changed so we will keep an eye out for advantages we can get.

"We've made it very clear we are very disappointed with the tough visa arrangements that have applied to Australian over the last few years".





