Turnbull, Key bromance continues

It started out as a bromance between bankers and now that Australian Prime Minister Malcolm Turnbull and his NZ counterpart John Key are both world leaders it's only growing.

The foreign leader's official visit to Sydney has been a love-fest for the pair, who have been friends for decades.

They had nothing but praise for each another during the Trans-Tasman Business Circle luncheon on Friday afternoon.

Mr Key told a thousand Australian and Kiwi business leaders that they could take great confidence in Mr Turnbull's ability to articulate Australia's view clearly and succinctly on the world stage.

It's not praise he ever offered for Mr Turnbull's predecessor, Tony Abbott.

"Frankly I would be proud if I was an Australian to have him leading me," Mr Key said.

Mr Turnbull said Mr Key, who has been NZ prime minister since 2008, had been a role model for himself and other world leaders.

The friendship extends beyond their political careers, back to the time when they were both merchant bankers.

Once the official duties are complete the pair is set to retire on ferries to Mr Turnbull's Point Piper mansion for an informal dinner with their wives Lucy and Bronagh.

Mr Turnbull has chosen to shun the official prime ministerial residence Kirribilli House in favour of his own private residence.

While Mr Turnbull said much had been speculated about the "pyjama party" it would be a quiet dinner with a few glasses of red wine.

Mr Key, who will reportedly be taking along a few bottles of New Zealand wine, has said the Turnbulls would be more than welcome to stay at his own multi-million dollar Omaha Beach holiday home, north of Auckland.

He has previously invited former prime minister Julia Gillard and her partner Tim to stay at the home after she was rolled by Kevin Rudd in 2013.