The Government today welcomed the release of Austrade's Australia – A Global Financial Services Centre Benchmark Report 2010.
The report confirms Australia's position as a leading financial services centre in our region and shows the Gillard Government's commitment to making sure Australia is a country that is attractive to international investors.
"It is very pleasing to see how well Australia performs in key areas, including the resilience of our economy and the size and liquidity of our financial markets," Dr Emerson said.
"Australia now has AUD 1.7 trillion under management – the fourth largest pool of contestable funds in the world."
The Government also welcomed the release of the 2010 Australian Financial Markets Report. This report, produced by the Australian Financial Markets Association (AFMA), highlights the improving conditions in Australia's financial markets. Aggregate financial markets turnover increased 5.4 per cent in 2009‑10, to AUD 102 trillion.
"The Gillard Government is committed to strengthening Australia's reputation as a financial services centre and improving our international competitiveness. We have already undertaken key reforms in this area," Mr Shorten said.
"The Government has established a Taskforce of senior financial sector representatives to continue its work in promoting Australia as a financial centre for the region.
"This Taskforce is a key forum for industry to influence the design of a range of proposals including the Asian funds management passport, the Investment Manager Regime, funds management vehicles and the online regulatory gateway.
"The Gillard Government will continue to work hard to promote our country as a prime destination for foreign investment and a regional centre of excellence for funds management," Mr Shorten said.
This report is available from www.austrade.gov.au/Benchmark2010.
30 September 2010