1-It is well-known fact that international trade agreements can affect the volume and direction of the trade. Within this context:

a)Please discuss the nature of multilateral and regional trade agreements by providing real-life examples.

b)Please explain how these agreements are able to divert the nature of trade? How does this happen? Explain the rationale behind your answer and provide graphs if necessary.

c)We know that the World Trade Organization (WTO) has concerns regarding the environment and trade. Please discuss how this trade-off can be solved? What kind of rules and regulations are implemented by WTO?