Prime Minister Scott Morrison is nominating outgoing Finance Minister Mathias Cormann for the position of Secretary-General of the Organisation for Economic Cooperation and Development.
The West Australian senator is due to retire from politics later this month, having held the position of finance minister since 2013.
“I can think of no finer candidate that Australia can put forward with his experience, with his skills,” Mr Morrison told reporters in Canberra on Thursday.
He also announced the appointment of Senator Simon Birmingham to replace Senator Cormann as both finance minister and Leader of the Government in the Senate.
Employment Minister Michaelia Cash will become the new Deputy Leader of the Government in the Senate.