Korea-Australia FTA: energy and resources opportunities

Key Points:

According to the Australian Government, the FTA could increase trade with Korea by 23% by 2030, with most of that rise coming from energy and resources products.

Korea is Australia's fourth-largest trading partner, and Australia is Korea's seventh largest trading-partner, with trade volumes of approximately $30 billion in 2013, so it's not surprising that both countries are trying to conclude a Korea-Australia Free Trade Agreement (FTA).

Given the fact that the energy and resources sector accounts for nearly half of that, it will be particularly important for industry participants to understand the main opportunities that will arise once the FTA is finalised.

The existing Korea-Australia resources relationship – and where it could go