We must have an open mind on reform:PM

Malcolm Turnbull has opened a meeting with business, unions and community leaders, saying the challenges facing Australia must be approached with an open mind.

The prime minister summoned the meeting on Thursday as a follow-up to a privately-sponsored reform gathering in August.

"What we need is a good, frank, open discussion, we need good ideas and we need to engage with these challenges and the ways to take advantage of them with an open mind," Mr Turnbull said in his opening remarks of what will be a closed-door discussion.