Australian services ranging from education to healthcare are poised to take on a far greater share of exports to Asia in the coming years, according to a new report.

Small and medium businesses in Australia are being encouraged to explore exciting new export opportunities made possible by the new Korea-Australia Free Trade Agreement (KAFTA).

The Export Market Development Grants (EMDG) scheme will receive a $50 million government injection to help small and medium sized businesses reach their export potential.