The Government will renew funding, of $11.4 million over the next three years, for Axiss Australia.
Axiss Australia is a division within the Department of the Treasury that promotes Australia as a Centre for Global Financial Services.
The funding will enable Axiss to continue promoting Australias advantages, through marketing and facilitation, as a location to conduct financial services business.
"Ongoing funding means Axiss can keep on pursuing this Governments goal of making Australia the global financial centre in the Asia Pacific region," the Minister said.
The continued promotion of Australia as a Centre for Global Financial Services is expected to encourage the development of a more competitive financial services sector, with potential benefits to consumers through wider and deeper product ranges and lower costs.
Developing Australia as a financial centre also has long-term employment benefits.
Axiss Australia aims to promote awareness and a better understanding of one of the most sophisticated financial markets in the Asia-Pacific region. Axiss also provides the Government with policy advice on the issues which enhance Australias attractiveness to global capital.