Ministers believe that they are on track to sign within weeks the first fully-fledged, post-Brexit trade deal with Australia that will mean tariffs between the two countries being slashed.
Under the deal being finalised, the UK will agree to a zero-tariff, zero-quota access for Australian agricultural exports. In return Australia will remove tariffs on products such as Scotch whisky and cars as well as giving greater access to UK services companies.
A tentative agreement is understood to have been pencilled in for the week after the G7 summit in Cornwall from June 11 to 13.
Scott Morrison, the prime minister of Australia, will join the gathering of western leaders and is expected to stay on for bilateral talks, when both sides hope that an