Riding high from a successful bilateral meeting with United States President Donald Trump, Australia's ambassador Kevin Rudd has heaped praise on Anthony Albanese for managing the alliance while repairing ties with China.

Shrugging off the tongue-in-cheek personal jabs he received from Mr Trump during a press spray, Mr Rudd told high-powered financial executives at the Citi A50 Sydney Investment Summit Canberra was viewed positively in Washington DC.

"Australia ... is enjoying a first-class working relationship with the Trump administration ... and you've seen some of the practical fruit of that from what the PM agreed to in recent days," he said on Thursday in a gilded room at the Opera House.

Mr Rudd was referring to the multibillion-dollar deal inked earlier in October that gives the

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