Brexit not in Aust's interests: Bishop

It would be in Australia's best interest for the UK to remain in the European Union, Foreign Minister Julie Bishop believes.

Britons go to the polls on Thursday to vote for a "Brexit" or a "Bremain".

Ms Bishop expects considerable economic volatility if the UK votes to leave the bloc, but acknowledges it is a decision for the British people.

Australia and Britain had a deep economic, strategic and historic relationship with important intelligence and security ties, she said.

"To have a like-minded partner within the European Union would be in Australia's interest," Ms Bishop told a Lowy Institute lunch on Monday.

The EU was a top trading bloc for Australia, so increased instability within the organisation could have some fallout here, she said.