FORMER Australian finance minister, Mr Mathias Cormann took office on Tuesday as the sixth Secretary-General of the Organisation for Economic Cooperation and Development (OECD), becoming the first from the Asia-Pacific region to lead the body.

Ministers and senior officials of the Paris-based multilateral body’s 38 member countries and outgoing Secretary-General Mr Angel Gurria welcomed Mr Cormann in a handover ceremony during the ministerial level meeting of the OECD Council.

"I am ambitious for the OECD and what it can achieve with Members, for Members, and most importantly, for the people in member countries. You can count on me to give it my absolute best as we work towards a better future, together," said Mr Cormann.

Defeating former EU trade commissioner Ms Cecilia Malmstrom from Sweden to win the new role, Mr Cormann will assume office for a five-year term.

The second edition of the OECD’s Ministerial Meeting will take place in the autumn and will focus on longer-term issues including the OECD’s future priorities and transforming policy ambitions into deliverable actions that reinforce a shared goal to build a green and inclusive future.