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The group, whose members have not yet been chosen, will aim to lobby public and private institutions across the world over procurement practices and business opportunities for members.

Nelson Ogunshakin, ACE chief executive, said the group would target institutions such as the World Bank, the European Bank

for Reconstruction and Development, the Asian Development Bank and the African Development Bank.

Ogunshakin said: "There are growing opportunities in the European Union, and the accession states are creating momentum so we need to represent them across the area."

The group will also aim to promote business opportunities to overseas firms and attract overseas staff to work in the UK.

Ogunshakin said that members for the group had not yet been chosen but would be likely to include heads of major members such as Parsons Brinckerhoff, Capita Symonds and Jacobs Babtie.

The launch of the group comes two weeks after Ogunshakin addressed the Centre for Global Development in Washington over how to minimise corruption in African banking.