There are hopes that Winston Peters has given his two cents - at the summit aimed at de-escalating the situation with North Korea.

The summit in Canada, which is wrapping up today, aims to find a solution to Kim Jong Un's nuclear ambitions.

Our Foreign Minister has said he's in favour of imposing more sanctions on North Korea, but critics say the summit won't get far without China and Russia in attendance.

Housing Minister Phil Twyford told Chris Lynch everyone in Asia-Pacific is hoping for a peaceful solution.

"If the Deputy Prime Minister can assist on that issue by bringing New Zealand to the table as a regional voice, then that's a great  contribution that New Zealand can make."

READ MORE: Winston Peters' North Korea comments worry expert

However, National doubts the summit will be effective.

National's finance spokesperson Steven Joyce said that without China and Russia in attendance, the meeting may not be that influential.

"China is North Korea's close neighbour. They are not friends these days, but nevertheless, China remains most concerned about North Korea."

LISTEN TO STEVEN JOYCE AND PHIL TWYFORD TALK WITH CHRIS LYNCH ABOVE