PM wraps first summit with Biden meeting

Prime Minister Anthony Albanese has marked a successful first leg of summits, taking part in a substantial meeting with United States President Joe Biden.

The two leaders met in Phnom Penh on the final day of the East Asia and ASEAN summits.

During a 40-minute meeting the pair discussed security arrangement between Australia, the United Kingdom and the United States (AUKUS), climate change and engagement in the region.

"Australia's standing in the (Indo-Pacific) region has risen and that is a benefit for those those who have respect for Australia's position," Mr Albanese told reporters on Sunday.

"The United States is one of those."

Mr Albanese invited Mr Biden to address a joint sitting of parliament when Australia hosts Indian, Japanese and United States leaders for a Quad meeting in 2023.

The prime minister also had a friendly, informal chat with Chinese Premier Li Keqiang during a gala dinner on Saturday night but the question remains whether he will meet President Xi Jinping.

If he secures the catch-up, it will be the first time in six years Mr Xi has had a formal meeting with an Australian leader.

"I had a brief conversation with Premier Li, it was very positive, it was constructive," Mr Albanese said.

"I've said repeatedly about the relationship with China that we should co-operate where we we can and that dialogue is always a good thing."

In his closing remarks to the East Asia summit on Sunday, Mr Albanese thanked Cambodian Prime Minister Hun Sen and reiterated Australia's commitment to ensuring a stable and peaceful region.

With Russian Foreign Minister Sergei Lavrov in the room, Mr Albanese condemned the invasion of Ukraine and pointed out the economic consequences for the rest of the world.

"I didn't miss him (Lavrov)," Mr Albanese said.

"I pointed out that Russia's actions were causing enormous human toll ... but also that it was a breach of the international rule of law."

Australia also strengthened a free trade agreement with ASEAN and New Zealand.

The agreement needs to be approved by the parliaments in each nation before coming into place, but Mr Albanese said it was a significant upgrade to existing arrangements.

"This will allow for more access for both goods and services in the region," Mr Albanese said.

"Strengthening trade agreements with ASEAN and New Zealand will mean better outcomes for Australian business and Australian families."

The prime minister will later tour an exhibition in Phnom Penh with other world leaders.

Mr Albanese will tour an exhibition and spend the night in Phnom Penh before he travels to Bali for the G20 summit.