BARACK Obama is ending his final overseas trip in office, holding a lengthy meeting with the fourth Australian Prime Minister of his Presidency.

On the sidelines of the APEC Summit in Peru, Prime Minister Malcolm Turnbull sought to tease out Mr Obama's expectations of how US security and economic policy may change under the Trump administration.

Before the meeting, Mr Turnbull nominated trade and "our strategic commitments, particularly in the battle against terrorism" as key points of discussion.

Although Mr Obama's term is ending, the Australian Government is keen to feed its perspectives on foreign policy into Washington DC, before the new administration takes power on January 20.

One official has described the meeting as a "stocktake" on current alliance activities.

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