The UN General Assembly adopted a Pact for the Future, which the Secretary-General of the UN Antonio Guterres defined as a landmark agreement which is "a step forward towards a more effective, inclusive and networked multilateralism", BTA reported.
"The multilateral system and its institutions must be strengthened to keep up with the changing world. They must be suitable for the present and the future - efficient and capable", said the Secretary General of the world organization at the beginning of the meeting.
There are two annexes to the Pact for the Future: a Global Compact on Digital Technologies and a Declaration for Future Generations.
Earlier, Senegal's Philemon Yang, president of this year's UN General Assembly, kicked off the Future Summit at the world body's headquarters in New York.
The Future Pact, as well as its annexes, are the result of many months of negotiations and compromises on all sides, Philemon Yang said. There is no international document that is perfect, but I strongly believe that the Pact for the Future expresses the broadest support of member states, he added.
Global crises have shown that there is a need for reform in the United Nations and a review of international financial systems, the organization writes on its website. These challenges include the military conflicts in Ukraine, Gaza and Sudan, insufficient efforts to combat climate change, and more.
The Russian delegation at the forum submitted a proposal for amendments to the text of the pact, but after a vote it was rejected after 143 countries voted not to consider it.
German Chancellor Olaf Scholz made a statement on social media in which he stated that the Pact for the Future is all about the member countries treating each other with respect and fairness. He emphasized that trust and cooperation are the basis of all this.
"We work together - as before. We still trust each other. We are committed to the principles of the UN Charter - as we always have been. And we are ready to continue to treat each other with respect and fairness. This is what the Pact for the Future is," said the German Chancellor.