While we welcome these moves in the bilateral sphere, our optimism must necessarily be guarded, for we are aware that bilateral negotiations do not always produce agreements, let alone agreements in the global interest. we have therefore stressed repeatedly the essential complementarity and mutually reinforcing linkage between bilateral and multilateral negotiations. We must persist in our multilateral efforts towards disarmament, especially in the Conference on Disarmament. In the multilateral sphere too, we have cause for some satisfaction in the fortieth anniversary year. Following resolution 39/160, a successful meeting of the Preparatory Committee for the International Conference on. the Relationship between Disarmament and Development took place this year, and its report is before us at this session. We endorse the proposal for the agenda of the Conference and consider it fitting that, in recognition of the initiative taken by the President of France, the Conference should take place in Paris next year. We NR/plj A/C.l/40/PV. 9 49-50 (Mr. Dhanapala, Sri Lanka) are confident that, in examining the impact of military expenditure, especially of the militarily powerful States, on the global economy and its consequent reinforcing of unequal exchange, ways and means can be devised for relea_sing additional resources through disarmament measures for development purposes, especially in developing countries. The 1986 Conference takes place at an opportune moment both in the context of the acceleration of arms expenditure and the deterioration of world economic conditions. Military-industrial complexes have grown global in their reach, and interlocking vested interests in the arms race - both nuclear and conventional -will be slow to yield to the pressure for their transition to peaceful development purposes. Another successful multilateral endeavour in the field of disarmament was the third Review Conference of Parties to the Treaty on the Non-Proliferation of Nuclear Weapons. The Final Declaration of that Conference, adopted by consensus, 
**Analysis**
The text appears to be discussing the relationship between disarmament and development, specifically highlighting the need for disarmament to free up resources for development purposes, particularly in developing countries. The text also mentions the impact of military expenditure on the global economy and the need to transition from arms race to peaceful development purposes.

**Category**
Economic development, International trade