BAKU, Azerbaijan, March 11. A new approach to multilateral cooperation needs to be developed, former World Bank Vice President Ismail Serageldin said, Trend reports.
He made the remark at a press conference within the framework of the 13th Global Baku Forum, which will be held on March 12-14.
"The world is experiencing not just a period of transition, but a profound rupture, where the previous order based on multilateral interaction has suffered a very serious, if not fatal, blow. It is clear that we have entered a new era, where it is no longer only about returning to institutions created for the twentieth century. We actually need to develop a new approach to multilateral cooperation to address the challenges of the twenty-first century, whether political, military, environmental, humanitarian, development-related, or other issues," Serageldin said.
He stressed that addressing these challenges requires a commitment to fundamental values: human rights, equality, eradication of poverty and hunger, environmental protection, mutual accountability, human solidarity, biodiversity preservation, and other critical issues ranging from water resources to food security.
"Beyond all this, we need to rethink the institutions themselves so that they can manage present crises while laying the foundation for future strategies. I believe this Global Forum is taking place at precisely the moment when the experience and wisdom of its participants are needed more than ever," he added.
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