Australia's diplomats working overtime in the wake of Brexit

Australian diplomats are considering how the Brexit decision will impact on relations with Britain and the European Union, and the first priority will be settling local markets, political reporter Anna Henderson writes.

Whoever wins the election next weekend will be sent the message that Britain will be looking to friendly countries like Australia for support in a time when Europe's leaders will be taking unkindly to the planned exit.

It's anticipated there will need to be deep negotiations on the potential trade, political and economic fallout.

While former prime minister Tony Abbott has suggested the decision could clear the path for a direct Free Trade Agreement with Britain, that position is not supported by key diplomatic insiders.

There's a view that Russian President Vladimir Putin will be enjoying the instability created by the Brexit vote, but China would be worried about the prospect of a weakened Europe.

It's expected the EU will take a tough stance on withdrawal and will try to stop the possibility of a contagion leading other countries to consider exiting the union.

One of the big long term questions will be how this impacts on the open borders policy within the EU and how the bloc will regain control over immigration.