New York [US], September 22 (ANI): India, the European Union and other co-sponsors of the Partners for Multilateralism (P4M) initiative have pledged to work together in support of peace, stability, inclusive and sustainable development and rights for all, while committing to reform and strengthen the multilateral system.

The initiative was launched on September 21 on the margins of the United Nations General Assembly High-Level Week by the EU, together with co-sponsors Australia, Barbados, Brazil, Canada, India and Kenya on Monday.

The co-sponsors adopted the Declaration of the Partners for Multilateralism (P4M) Summit, describing it as a joint commitment to multilateralism, international law, peace and prosperity.

The declaration noted that the world is undergoing profound transformation, with growing polarisation, conflicts, violations of international law and increasing reliance on power politics, protectionism and coercion posing challenges to international cooperation.

The signatories said these developments threaten international peace and security at a time when stronger global cooperation is increasingly necessary.

They also pointed to disruptions in trade, supply chains, investment and development finance, while highlighting shared challenges such as climate change, biodiversity loss, pollution and the rapid development of emerging technologies, particularly artificial intelligence.

Against this backdrop, the co-sponsors committed to work together in support of 'peace, stability, inclusive and sustainable development, shared prosperity, human dignity and rights for all.'

The declaration also reaffirmed the importance of the multilateral system established under the United Nations Charter, while stressing the need to reform it so that it is more effective, representative, inclusive and suited to current global challenges.

The signatories also reaffirmed their commitment to international law and principles including sovereign equality, territorial integrity, peaceful settlement of disputes and the prohibition of the threat or use of force.

The declaration underlined the importance of international humanitarian law, the Universal Declaration of Human Rights and the protection of human rights and fundamental freedoms.

It also reaffirmed the signatories' commitment to implementing major international agreements and frameworks, including the Paris Agreement and the 2030 Agenda for Sustainable Development.

The P4M co-sponsors highlighted rising inequalities within and among countries as a challenge to stability, social cohesion and inclusive growth. They called for joint efforts to address these concerns, including through initiatives such as the Global Alliance Against Hunger and Poverty and the International Panel on Inequality.

The declaration further called for stronger multilateral cooperation that is 'open, fair, equitable, inclusive, networked and practical', including closer partnerships with regional organisations and support for regional integration.

A major focus of the initiative is reform of multilateral institutions, particularly the United Nations.

The co-sponsors agreed to 'reform and strengthen multilateral institutions', including through initiatives such as UN80, with the aim of improving their ability to prevent conflicts, respond to crises, deliver sustainable development, promote fair trade and protect human rights and the rule of law.

"We reaffirm that the multilateral system founded on the United Nations Charter remains indispensable. It has helped provide a framework for peace, decolonisation, prosperity, and human dignity. It must now respond to a world that is more interconnected and complex, more contested and more multipolar,' the declaration read.

The declaration also called for fair, open, resilient, predictable and inclusive economic cooperation. Areas identified for greater cooperation included resilient global supply chains, reform of the multilateral trading system, international financial architecture, digital transformation, artificial intelligence, climate change and global health.

The signatories also committed to regular exchanges with partners from all regions to promote dialogue, coordination and practical cooperation.

Concluding the declaration, the co-sponsors said they were choosing 'cooperation, respect for international law, multilateralism and shared responsibility' as the foundations of their collective efforts at a time of mounting pressure on the international order. (ANI)