Leaders find hard to agree on a joint APEC statement as the summit wraps up in Papua New Guinea

The Asia Pacific Economic Cooperation summit in the Papua New Guinean capital of Ports Moresby has concluded.

Australia's Prime Minister Scott Morrison shakes hands with other world leaders at a signing ceremony Source: AAP

Some western powers at the summit have announced an important aid project for Papua New Guinea at the summit.

But it comes amid fermenting tensions between two superpowers, with many countries looking to balance their relationships with both of them.