If you're a small business operator, I would encourage you to take a closer look at the export opportunities created by the Korea-Australia Free Trade Agreement (KAFTA), which has now entered into force.KAFTA reduces tariffs and other trade barriers with our third-largest export market, and this will increase competitiveness and demand for Australian products and services.84 per cent of our merchandise exports to Korea now enter duty free, including agricultural and industrial goods.This will rise to 99.8 per cent when the agreement is fully implemented.A second round of tariff cuts will take effect on New Year’s Day.This greatly enhances our competitive position, and provides significantly improved market access for exporters across a range of areas, from agriculture through to service providers.In turn, Australia has committed to eliminating its remaining tariffs on imports from Korea which will place downward price pressure on Korean imported goods for consumers and business.The potential for consumers is access to cheaper Korean-made electronics and whitegoods.KAFTA is the first of three transformational trade agreements to come into force.Trade deals with Japan and China complete the trifecta.Find out more in a step-by-step guide at http://bit.ly/1AAfbR0