NZ must be good global citizen while Brexit plays out

"We are watching," he says. "It is a case of how to be good responsible international citizens.

"We need to try to make the best out of this and assist all parties to transition out of it while ensuring NZ's interests are well looked after."

A focus is what the EU does and how it treats the UK. Many variables apply in the politics overlaying that, including the UK leadership and whether the EU wants to make an example of the UK, Parsons says.

"Staying close to what is going on with all our counterparts in UK and Europe is important; so is working through all the issues in terms of trade between the EU and the UK and all the various trade deals."

The list is huge.

"We are focusing on [exactly] where NZ's trade access arrangements with the EU sit, and ensuring we are as high on the list as possible while being realistic about the things they have to work through."

There's a possible silver lining: if the EU is closed to UK sheepmeat or they have too high tariffs, there may be an under-supply to the continent.

"I suspect once all the dust settles the EU and the UK will try to be reasonably grown-up and not be too damaging in respect of trade. But you never know. Sometimes rational thinking doesn't always prevail if there's politics in play."

With NZ's sheepmeat quota, the UK and the EU states must all abide by their commitments as World Trade Organisation (WTO) members. The sheepmeat, goat and high quality beef quotas NZ has with the EU were negotiated under the WTO so it is important for them to maintain their credentials.

"We are confident we will work through that but how should it be split up between the two parties? No one is quite sure how it would work out."

It is too early to say whether it will affect the passage of NZ's hoped-for free trade agreement with the EU.

"The trade officials within the EU will have bigger issues to deal with right now, so I suspect [NZ's] FTA discussions might be a little down the priority list. But it's hard to pick how it will play out; you might find [our FTA] goes a bit higher up the list once the dust settles."