Baku: The Global Baku Forum, which is currently underway, is of particular importance, emphasized Dr. Ismail Serageldin, former Vice President of the World Bank, during a press conference dedicated to the 23rd edition of the forum, APA reports.

According to Azeri-Press News Agency, Dr. Serageldin noted that although this marks the 30th gathering in Baku on the eve of Nowruz, the current global context is unprecedented. He pointed out that the world is not only experiencing wars but is also at a critical juncture, indicating a shift away from the rules-based multilateral international order. This transition signifies the onset of a new era where nostalgia for past institutions is insufficient.

Dr. Serageldin stressed the necessity to develop a new approach to multilateralism that can effectively tackle 21st-century challenges, encompassing political, military, environmental, humanitarian, and developmental issues. He emphasized the need for a commitment to core values such as human rights, equality, the eradication of poverty and hunger, environmental protection, and solidarity.

He further elaborated on the need to reorganize institutions to address current crises while also crafting strategies for the future. The Global Baku Forum, he asserted, is therefore convening at a crucial time when the collective wisdom and experience of its participants are essential.