Visiting British Foreign Secretary William Hague signed a trade agreement with his New Zealand counterpart Murray McCully in Auckland on Friday.

Signed at Eden Park, the scene of the 2011 rugby World Cup final, the Host2Host agreement aimed to maximise business opportunities from that event, and the 2012 London Olympics.

After the signing, Hague said the Host2Host agreement will bring together some of the expertise of New Zealand hosting the rugby World Cup and London hosting the Olympics in 2012.

He said there's a lot of work that they can do together and businesses can do together to share their expertise, particularly in the legacy of those games and events.

Hague and British Defence Secretary Liam Fox arrived in Auckland on Thursday for two days of bilateral talks, their first visit to New Zealand.

The Host2Host aimed to build on existing levels of cooperation between the New Zealand Trade and Enterprise (NZTE) and United Kingdom Trade and Investment (UKTI).

It aimed to increase business activities between New Zealand and Britain through trade missions and promotions of business opportunities arising from sporting events.