Australia launched a new national brand, "Australia Unlimited" in the hope to lure foreign investors.

Federal Trade Minister Simon Crean announced the slogan will be used to market Australia to overseas business investors.

According to government's website Brand Australia, the branding aims to "better position Australia as a global citizen, global business partner and world class destination."

"We need to market ourselves better. Australia is known as a great place to have a holiday but it is also a great place to do business."

The Australia Unlimited concept was developed by the British advertising agency M&C Saatchi. It is the product of the government's branding exercise announced last year. The government has allocated $20 million to promote it over the next four years.

Crean stressed the need to market Australia better. He said that Australia is more than a great holiday place; it is also a great place to do business.

''We should be better regarded as a dynamic and creative nation, a good global citizen and a strong business partner.''

Trade Minister Crean said the promotion will be launched during the Shanghai Expo in China next week.

"[China is] the largest, fastest-growing economy in the world - our largest trading partner," he said.

The Australia Unlimited brand will also be on display at the World Cup in South Africa next month.