The world’s biggest regional trade deal is still within reach despite Australia walking away empty-handed from the latest talks, says the federal government.

Hopes the Trans-Pacific Partnership deal could be finalised this week were dashed on Saturday, when trade ministers from 12 participating nations failed to reach a final agreement on the $200billion pact.

Trade Minister Andrew Robb vowed to keep working, labelling the Hawaii round of talks his most productive yet.

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Mr Robb said more than 90 per cent of issues have been thrashed out.

“While we didn’t quite get there, we are definitely on the cusp,” he said in a statement on Saturday.

Concerns around automotives, data protection of biologics, dairy and sugar remain sticking points.

But they are not impossible to resolve, Mr Robb said.

“From my reading, the issues are not intractable and there remains a real determination to conclude the TPP among all parties.”

Farmers were disappointed by the outcome but said it was important to get a good deal.

National Farmers Federation deputy chief Tony Mahar told Sky News: “We really hope that we can get a successful agreement for farmers within the next few months.”

Mr Robb faces a tussle at home over the deal, with Nationals MPs demanding a decent deal for sugar farmers.

Half a dozen federal Nationals indicated they would cross the floor when the agreement comes before the parliament if only a token result is achieved.

The US allows sugar imports based on a quota system, with Australian cane farmers now allowed to send about 100,000 tonnes there a year.

The farmers would like to raise this to more than 500,000 tonnes but the Americans are holding out.

The agreement involves 12 nations including the US, New Zealand, Japan and Canada, and covers about 40 per cent of the global economy.

Talks are expected to resume in November.