To have free market economics you first need a market. A market is an economic system in which many competitors compete for customers by trying to provide the best quality products or services at the cheapest possible price. Oligopoly is a market only if you stretch the meaning of 'market'. And THAT is the form of most markets in Australia today. A 'level playing field'.
Free trade means no barriers to imports or exports between nations.
Only a child or a free trade economic mystic would doubt it for a moment. Through debt for equity swaps, many countries no longer own or control the assets that might give them their comparative advantage. Global capital does. They struggle to compete in a climate of deteriorating terms of trade, getting further into debt and selling progressively more of their 'comparative advantage' to global capital. After levelling out the cost structures of the players, free trade will only continue to work if all players play by the rules.