Fair Trade
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The concept of fair trade has gained substantial importance in the today’s world market. It is a kind of social movement, which is aimed at ensuring fair trade deal for the producers of less developed and developing nations. Proper working environment, fair prices for products and services, producers’ security, consistent demand for products, and many other related factors come under the purview of fair trade. It helps to promote exports from developing to developed nations. Fair trade practices are designed to ensure economic sustainability all over the world.
The concept of fair trade has gained substantial importance in the today’s world market. It is a kind of social movement, which is aimed at ensuring fair trade deal for the producers of less developed and developing nations. Proper working environment, fair prices for products and services, producers’ security, consistent demand for products, and many other related factors come under the purview of fair trade. It helps to promote exports from developing to developed nations. Fair trade practices are designed to ensure economic sustainability all over the world.
History of Fair Trade
It was in the 1940s and 1950s that several non-governmental organizations and some religious groups took the initiative to bring fair trade into practice. During this period, NGOs like Ten Thousand Villages and non-profit organizations like SERRV International, tried to create fair trade supply chains involving all the developing nations in the world.
The present form of fair trade practices became operational in the 1960s and within the decade of 1970s the concept of fair trade became immensely popular in the international arena. The fair trade movement has proved to be of great use in bringing the producers of less developed nations to the mainstream of the world economy.
Fair Trade Products
You can get all the different commodities that are traded through fair trade at the local shops and supermarkets. Retail fair trade products include tea, coffee, flowers, fresh fruits, dried fruits, biscuits, honey, chocolate, cotton, and many more.
It is quite easy to identify the fair trade products. In the United States, the system of Fairtrade labelling is used to help the consumers indentify the fair trade products. All producers dealing with fair trade products are required to abide by the fair trade certified standard.
