Richardson said the ICC wants all three formats to not only co-exist but flourish together.
"It was one of our major points of discussion during our board meeting. We want to make sure all three formats co-exist
and not only survive but flourish," the former South Africa wicket-keeper said.
"Twenty20 cricket is to globalise the game. We are trying a lot of things to position the three formats. The ICC Board has even agreed to review the bilateral cricketing structure keeping this in mind," Richardson said.
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Federation of International Cricketers' Association (FICA) CEO Tony Irish has warned that the lure of Twenty20 leagues like IPL and Big Bash is jeopardising the future of Test cricket, which will struggle to survive if the ICC does not take immediate action.
Meanwhile, the ICC CEO also exuded confidence about delivering a "clean" and corruption-free World Twenty20 event.
"I am very confident we will have clean tournament. Our Anti-Corruption and Security Unit is working hand in hand with Indian law enforcement agencies to provide a clean tournament," he said.
Days before the start of the World Twenty20, ICC's anti-corruption unit Chairman Sir Ronnie Flanagan had yesterday claimed that an international team was under investigation for corruption.
But just like Flanagan, Richardson also refused to divulge details about the investigation and said it was not fair to speculate about the team or players.
"We shouldn't speculate. It is not fair to speculate that team or players involved. It is unfair to speculate whether the team is part of upcoming World Twenty20. The case is under investigation," the ICC CEO said.