Fairtrade is an organized social movement that aims to alleviate poverty in the world by promoting a market-oriented approach and promoting sustainability. The movement represents, on the one hand, the payment of a fair price for the production of goods and, on the other hand, for monitoring the social and environmental aspects in the areas where that production takes place.
Fairtrade works with disadvantaged producers and workers to help them evolve from a vulnerability to a position of economic self-reliance. It also gives individuals the right tools to unite and so actively participate in world trade on a basis of equality.
According to the World Fair Trade Organization (WFTO) fair trade is based on the following principles:
1. Create opportunities for economically and socially disadvantaged producers
2. Developing transparent relationships and conducting transparent accounting
3. Fairtrade practices
4. Growth capacity
5. Responsible prices, live wages
6. Respect for the rights of the child
7. Respect for Cultural Identity
8. Promoting Fair
9. Responsible working conditions and working conditions
10. Environmental protection
As per IFAT (The international Fair Trade Association):-
“Fair trade is a trading partnership, based on dialogue, transparency and respect, which seeks greater equity in international trade. It contributes to sustainable development by offering better trading conditions to, and securing the rights of, marginalized producers and workers – especially in the South. Fair trade organizations (backed by consumers) are engaged actively in supporting producers, awareness raising and in campaigning for changes in the rules and practice of conventional international trade.”
Fair trade is more than just trading. It proves that greater justice in world trade is possible. It highlights the need for change in the rules and practice of conventional trade and shows how a successful business can also put people first.