And could you briefly explain what role the WTO World Trade Organization plays in regulating trade and shaping trade outcomes and what its main rules are and what they require of member countries?

Yes.

You know, to have an organization like the WTO organization, which has got started with 23 members in 1947 and now has 166 members.

You really need some sort of rules, set of rules, a set of disciplines, set of obligations that have to be that have to be observed.

And we'll talk in a minute about what's happened to that problem because now they're not observed the way they used to be.

So the rules are essential.

And amongst the sort of main rules, which I'll just basically quickly summarise, the first most important rule is the non-discrimination principle.

right thank you and so preferential trade agreements have grown in number and importance Where do these agreements fit within the broader international trading system?