It would be great if negotiations could be held between more than 2 civs(such as the world market ,which I think we should definitely see in Civilization 4). The multinatinal pacts will not only bring authenticity(and decrease the need of toggling several diplomatic screens every 20 turns) but also make the involved civs more bound together.
This will make the game even more diplomatic, which is one of the main features that separates Civilization from the ordinary strategies. Actually, one of the things that Civilization still lacks is good globalization process in modern times.
The idea is that civs should become so bound together that it will be more beneficial for a superpower to keep a small nation alive than crushing it. With globalization and multinational pacts any civ that betrays or separates from the others will lose the benefits of the pact and thus become isolated(however powerful it is).
The problem is I don't have a clear idea of how a multinational negotiation may be implemented. Perhaps one civ calls the others, makes an offer and then all civs take turns to modify it(
).

I'd be glad if further suggestions are made on this topic because I really want to see a next level of multinational negotiations in Civilization 4.