B20 business leaders summit kicks off in Sydney

The B20 business leaders summit kicked off in Sydney on Thursday, attracting some 400 global business leaders to the Southern Hemisphere with focus on business and creating employment.

Australian Prime Minister Tony Abbott made a keynote address at the opening, saying that the G20 can do more based on input from the B20 and that economic growth is key to addressing almost every global problem.

Abbott emphasized that business, not government, was the primary driver of growth and the private sector has to lead the way on economic growth.

Ahead of the G20 leaders summit to be held in November, the B20 summit mainly discusses infrastructure, financing growth, human capital, trade and jobs growth.

The B20 summit will conclude on Friday and will see international business leaders finalizing and prioritizing B20 policy recommendations and handing them to G20 leaders on the same day.