Australian farmers say their Government should walk away from trade negotiations with the EU - if it's offered conditions similar to New Zealand's deal.

Our free trade agreement signed overnight will remove tariffs for 97 percent of our EU exports over time - but only small amounts of meat and dairy, before they kick in.

Australian agriculture scientist Chris Russell says it wouldn't suit Australia.

"New Zealand has to make its own judgements where they're prepared to trade off the agricultural products for some of the other investment."

LISTEN ABOVE

• 'It’s a bloody good deal': NZ signs Free Trade agreement with EU
• EU trade deal has officially been signed