'Cooperation key to economic stability in strife-hit world'

NEW DELHI: Amid

geopolitical tension

, economic uncertainty and climate-related challenges,

global cooperation

remains critical for

economic stability

and security, ministers from Sri Lanka, Myanmar and Albania said at ET NOW Global Business Summit 2025.
"We are living in a disputed, politically divided world. The next generation is asking us what we are doing for them. The world is demanding a peaceful environment for business. All leaders must work together," Sri Lanka's minister for industries Sunil Handunneththi said during a panel discussion.
Myanmar's Union investment and foreign economic relations minister Kan Zaw emphasised that the era of a unipolar world order is over. "A unipolar world will not emerge again, it is a thing of the past. We are now in a

multipolar world

where not only the US and China are powerhouses, but India and other Brics nations are also rising. Myanmar remains neutral and works with all friendly international partners," Zaw said.
Albania, which is actively working toward EU membership by 2029 and is aligning itself with Western economic and political policies, said its deputy minister of economy, culture and innovation Olta Manjani. "It is the best and worst of times. We face numerous issues, including climate change. The world is both more united and more divided than ever. Leaders like (Donald) Trump raise scepticism about global institutions. Populism, nationalism, and protectionist policies pose real challenges," Manjani said.