Foreign Minister Julie Bishop will speak with her British counterpart on Sunday night to seek details on how the UK plans to exit the European Union.
Ms Bishop, who was in Sydney on Sunday for the Liberal-Nationals coalition election launch, said Philip Hammond had promised a comprehensive briefing on the ramifications of the Brexit vote.
"There are conflicting messages as to whether the period of withdrawal will be the whole two years that's allowed under the European Union treaty, or whether the European Union countries will want the exit to occur more quickly," Ms Bishop said.
It's been reported some EU states are seeking a fast-tracked exit to ensure stability.
Australia is negotiating with the EU on the possible terms of a free-trade agreement, but could open talks with Britain on a bilateral deal.
Ms Bishop said Australia was concerned that a weakened EU would not have any impact on how the Middle East and Ukraine situations are being handled.
"There are strategic concerns and we will continue to work very closely with both the European Union and with Great Britain to secure our national security," she said.
Prime Minister Malcolm Turnbull told the coalition launch the Brexit had caused "shock waves" and was a reminder of volatility in the global economy.
"We will need to renegotiate vital trade deals with Europe and with Britain," he said.
The Australian sharemarket and dollar took a hit and the pound dived as Britain voted to leave the EU after 43 years in the bloc.
Labor foreign affairs spokesman Tanya Plibersek said the British vote pointed to "middle-class and working class voters feeling left behind".
"What we've seen in Britain, what we've seen in the US, and sadly what we've seen in Australia too, is a growing wealth gap," she said.
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