Boris Johnson has agreed a free trade deal with Australia in the first major post-Brexit trading agreement, according to reports.

The Prime Minister and his Australian counterpoint Scott Morrison agreed the deal over dinner in No 10 on Monday evening, Sky News says, with the details set to be officially announced on Tuesday.

The UK government had been keen to strike a free trade deal with Australia by the end of June as it would prove it was capable of forging new economic opportunities post-Brexit.

The deal aims to increase the volume of trade between the UK and Australia above the current £20billion.

This will be the first major post-Brexit free trade agreement with a nation that the UK did not have an existing deal with while in the EU.

The deal is also of great importance at it could be a benchmark for terms set with future negotiations with other countries including the US.

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