3) (40 points) Answer the following questions regarding Turkey's membership to Customs Union. (In this question, you need to do extra reading and you need to be specific about the effects of Customs Union on Turkey's economy. It is not enough to write the general advantages and disadvantages of customs union agreements). a) Based on the literature, discuss the positive effects of Customs Union on Turkey's trade and economy. (Please do not write a long essay, list the positive effects of customs union in bullets. You should also provide relevant references). b) Based on the literature, discuss the negative effects of Customs Union agreement on Turkey's trade and economy. (Please do not write a long essay, list the negative effects of customs Unions in bullets. You should also provide relevant references) c) It has recently been discussed that Customs Union agreement needs to be updated. Based on the literature, discuss what type of changes need to be done in Customs Union agreement in order to increase the gains of Turkey from such an agreement.