More than 300 marketing resources will be made available for free to Australian businesses using the logo and slogan.
"A strong nation brand and tagline will reinforce Australia's reputation as an internationally competitive investment destination, a great place to visit, a quality provider of education, and a trusted exporter of premium goods and services," Trade Minister Dan Tehan said on Friday.
Modelling by Deloitte Access Economics found a one-place improvement in Australia's global brand ranking would increase merchandise exports by about $3.1 billion a year.
It would also improve foreign direct investment by $704 million a year, boost tourism by $174 million a year and increase international education by $137 million a year.
The logo and tagline - developed through the Brand Advisory Council, with design agencies Clemenger BBDO Sydney, Balarinji and Houston Group Sydney - cost $10 million.