Australia is open to boosting American troop rotations and increasing military plane visits as defence co-operation between the allies ramps up.

A historic pact to share nuclear-powered submarine technology - under the umbrella of a new alliance known as AUKUS - has been signed as Australian ministers held talks with counterparts in the United States.

Foreign Minister Marise Payne and Defence Minister Peter Dutton met with US Secretary of State Antony Blinken and Defense Secretary Lloyd Austin on Friday morning for the latest AUSMIN talks.

Mr Dutton said he aspired to increase troop rotations and other military co-operation between the two nations.

"If that includes basing and includes the storage of different ordinances, I think that is in Australia's best interests, in our national interests at this point in time."