fair trade
Sign in to savetrade arrangement prioritizing the well-being of workers
AI overview
Fair trade is a type of trade arrangement that focuses on ensuring workers are treated well and paid fairly, rather than prioritizing only profit and low costs. It matters because it aims to improve the lives of workers, particularly in developing countries, who might otherwise face exploitative wages and poor working conditions.
AI-generated from the Wikipedia summary — may contain errors.
Article
Fair Trade teas Fairtrade bananas from the Dominican Republic Fair trade is a trade arrangement designed to help producers in developing countries achieve sustainable and equitable conditions. The fair trade movement advocates paying higher prices to exporters and improving social and environmental standards. The movement focuses in particular on commodities, or products that are typically exported from developing countries to developed countries but are also used in domestic markets (e.g., Brazil, the United Kingdom and Bangladesh), most notably for handicrafts, coffee, cocoa, wine, sugar, fruit, flowers and gold.
Fair trade labelling organizations commonly use a definition of fair trade developed by FINE, an informal association of four international fair trade organizations: Fairtrade International (formerly called FLO, Fairtrade Labelling Organizations International), World Fair Trade Organization (WFTO), Network of European Worldshops and European Fair Trade Association (EFTA). Fair trade, by this definition, is a trading partnership based on dialogue, transparency and respect, that seeks greater equity in international trade. Fair trade organizations, backed by consumers, support producers, raise awareness and campaign for changes in the rules and practice of conventional international trade.