New free trade deals have been, or are currently being, negotiated with South Korea, China and Japan. When in place, they will open up abundant opportunities for Australian business in these markets.
In any industry where Australia has a competitive advantage (e.g. wine, food, education and resources) companies should keep a close eye on these developments. For example, when free trade agreements are implemented between Australia, South Korea and Japan, Australian wineries will have a substantial competitive advantage over other wine producing regions of the world (that does not have free trade deals with these countries).
For that reason, Australian businesses should start their international marketing planning and prepare themselves for these new and amasing opportunities.