The article analyses the fundamental research “Multilateralism in Transition: Challenges and Opportunities for the OSCE”, prepared by a team of Swiss experts under the leadership of the renowned Swiss diplomat Thomas Greminger (the Permanent Representative of Switzerland to the OSCE, the UN and the International Organizations in Vienna). The fact that T. Greminger served as Secretary General of the OSCE from 2017 to 2020 gives added value to the research. This created a unique opportunity to combine in the research his vast experience, personal impressions from the observance of the “internal kitchen” of the Organization and his analyses of the main directions of the work of the OSCE. The research focuses on the central problems of the OSCE’s activities- preservation of the European security, prevention and regulation of conflicts, new challenges to the European security, strategic partnership of the OSCE with major international organizations, introduction of modern technologies to the operational activities of the Organization, reformation and modernization of the OSCE’ s management system and operational functions. Special attention is payed to the revitalization of the OSCE Structured Dialogue ‒ the main platform for discussions of the most important politico-military problems and confidence-building measures, exchange of information on current perceptions of threat, military capacity, de-escalation measures, best practices for the prevention and improved management of military incidents. The book contains a positive assessment of the concept of cooperative actions aimed at a collective response to the new challenges to the European security: climate change and environment destruction, impact of technology on the societies, illegal migration, pandemics, cross- border organised crime, cyber threats, nuclear security. The authors of the book consider that the collective security initiative could stimulate trust, convergence of interests of participating states and finally would improve European security through cooperation. They also bring to attention the problems of the longstanding reform of the OSCE through presentation of the ten-point reform agenda, including management reform of the OSCE Secretariat, reform of the budget cycle, information security and automating work processes. leveraging partnerships with international and regional organizations.