CANBERRA, Nov. 21 (Xinhua) -- The Australia government is prepared to "get behind" U.S. President-elect Donald Trump as the gradual transition of power from outgoing President Barack Obama continues, Australia's Prime Minister Malcolm Turnbull said Monday.

Speaking to the Australian press at the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Peru, Turnbull said all Australians want the next chapter of U.S. politics to be a successful one, and that his government was prepared to "do everything it can" to support Trump while he is in office.

"President Obama wants President Trump to do well. He wants America to do well and America to succeed, and that's why he's reached out to the president-elect to offer his support and he has encouraged all of us including me to do exactly the same," Turnbull told the press on Monday.

"We all want the best for the United States and he wants the best for its president, so we will do everything we can to support President Trump."

"We all want to get behind President Trump and do everything we can to ensure he is successful."

Despite indications a Trump-led U.S. government would quash the 12-nation Trans-Pacific Partnership (TPP) trade deal, Turnbull was still confident he - and leaders of other TPP nations - could convince Trump to reconsider.

Turnbull said while the United States is a "good friend" and a strong ally, he would only support agendas which "don't compromise" the "national interest".

"As always, we will be defending Australia's interest. We don't compromise our national interest," Turnbull said.

"I'm here to represent Australia and Australian jobs and the economic growth we seek to deliver for our Australian children and grandchildren as part of this dynamic Asia-Pacific region."

Turnbull's comments come as respected economic advisory body Deloitte Access Economics said a Trump presidency would have only minor effects on the Australian economy and the federal budget.

Chris Richardson from Deloitte said any changes in a Trump administration would be gradual and not sudden, allowing foreign economies to adjust to any policy change as it occurs.

"The chances are that policies will change, but what will change will be slower and smaller than you've heard in the campaign," Richardson said in a statement on Monday.

"By and large, President Trump is unlikely to be big news for the economy of Australia."