Barnaby Joyce has not ruled out grabbing back the trade portfolio for the Nationals in an imminent reshuffle of the federal ministry.
The Nationals elected Barnaby Joyce as the new federal leader, and Senator Fiona Nash as his deputy on Thursday night.
Mr Joyce was not contested for the leadership. He described his election to the leadership as "an awesome responsibility".
Ms Nash said she was humbled to have been chosen as deputy. "It's an exciting time to be in regional Australia," she said.
Mr Joyce is the 13th leader of the Nationals in a century, following Warren Truss' decision to retire.
The junior coalition partner lost its traditional hold on trade after the coalition won power in 2013.
Since then, Trade Minister Andrew Robb has secured free-trade deals with Japan, South Korea and China.
The new Nationals leader was coy when asked whether he wanted the Liberals to hand back the trade portfolio, preferring to leave it to a meeting with his deputy Fiona Nash and Nationals Senate leader Nigel Scullion on Friday.
"We'll determine what best suits the people we represent," Mr Joyce told ABC radio before saying how important commodities were for the regions.
Newly elected Nationals deputy leader Fiona Nash and newly elected leader Barnaby Joyce walk out after a leadership ballot at Parliament House in Canberra on Thursday, Feb. 11, 2016. Source: AAP
Mr Robb is staying on in a trade role, possibly as a special envoy to secure a free-trade deal with India and advance negotiations for a whole-of-government relationship with Singapore.
There is also an outside chance Mr Robb might settle a free-trade deal with Indonesia before his retirement at the election, likely around late August or September.
There is speculation Liberal Steve Ciobo, now International Development and Pacific Minister, will be given trade.
Mr Turnbull is tipped to overhaul his ministry within days.
The Nationals' new deputy leader, Fiona Nash, will be promoted to cabinet, increasing the number of women to five.
A renegotiated coalition agreement will pave the way for a fourth Nationals member of cabinet.
Mr Turnbull also has to find replacements for Jamie Briggs, who resigned in December, and possibly for Stuart Robert, who's future will be decided by a report being prepared by Department of Prime Minister and Cabinet secretary Martin Parkinson on whether he breached ministerial guidelines.
The prime minister is also likely to appoint a new special minister of state, the job relinquished by Mal Brough until a federal police investigation over the Slipper-Ashby affair is finalised, to negotiate changes to the way the Senate is elected.
Names mentioned for promotion to a full ministry include assistant ministers Concetta Fierravanti-Wells from NSW and Karen Andrews from Queensland.
Mr Turnbull is likely to use the outer ministry to promote some of the coalition's younger talent with NSW MP Angus Taylor and Victorian Dan Tehan high on the list.
