The 10th World Chambers Congress kicked off in Sydney on Tuesday, with some of the world's brightest minds on hand to discuss ways to transform the future of business and stoke the economy.

More than 1,000 international delegates, from businesses and governments, will attend the biennial, three-day event at the Harbour city's International Convention Centre.

The World Chambers Federation (WCF) held its first congress in France in 1999, to mark the 400-year anniversary of the world's oldest business chamber -- the Marseille- Provence Chamber of Commerce and Industry.

This year, one of the centrepieces of the meeting is the newly formed Silk Road Chamber of International Commerce (SRCIC), which formed in 2015.

"The WCF is an organization with long history and enjoys a strong international reputation and influence over the globe," President of the SRCIC, Lu Jianzhong said, when he addressed the forum.

"It is sophisticated and has extensive experience in chamber management and cooperation development."

"The Silk Road Chamber of International Commerce, on the other hand, is young, and like every young institute, is full of energy."

Eying strong growth potential and a positive outlook for cooperation between the SRCIC and the WCF, Lu said the aims of his not-for-profit, non-governmental, transnational business confederation was to share resources with the WCF and the broader business community in order to strengthen connectivity and promote the recovery of world economy.

For Lu, cultural exchanges between nations and its representatives are as important as the economic transactions.

"We hold the Silk Road Spirit in mind, which is peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit," Lu explained.

"Our mission is to achieve shared growth through discussion and collaboration, and our goal is win-win, multi-win and all-win outcomes."

The vast majority of chamber members that Xinhua spoke to at the event, believe the key areas in which global business can be improved to attain more mutually beneficial outcomes is through the reduction of transaction costs, better integration between countries and a more streamlined approach to international trade.

Lu explained that boosting services through foreign investment in the Belt and Road Initiative, proposed by China, would help address these concerns and act as a vehicle for prosperity and global economic growth.