Fair trade definition of fair trade by the free dictionary. Fair trade standards for bananas world banana forum. Buyers and sellers from separate economies may voluntarily trade without the. Trade fair definition and meaning collins english dictionary. The dumping issue thomas klitgaard and karen schiele trade liberalization has had little effect on the use of antidumping tariffstariffs imposed on imports judged by a government to be unfairly priced. Pdf meaning and progress in the fair trade movement. Fairtrade is about better prices, decent working conditions, local sustainability, and fair terms of trade for farmers and workers in the developing world.
For a tourism product to be fair trade tourism certified it must be assessed against the tourism product compliance criteria, which are derived from the tourism product certification standard. Summer 2014 fair trade is a labeling initiative aimed at improving the lives of the poor in developing countries by offering better terms to producers and helping them to organize. Fair trade organizations are guided by overarching principles that seek to empower marginalized producers and improve the quality of their lives. As a first step in evaluating their compliance with the fair trade standard, members must conduct a self assessment.
Journal of economic perspectivesvolume 28, number 3summer 2014pages 217236. Fair trade puts people first, supporting much more than the economic aspects of peoples lives. Trade fair meaning in the cambridge english dictionary. If you feel that the world of fair trade has its very own language do not worry. Fair trade is not a general theory of trade fair trade isa pragmatic response to unsatisfactory outcomes of the market by changing the nature of trading relationshipsthe fact that there is no theory of fair trade indicates the essential pragmatism of fair trade. To fulfil this vision, fairtrade has identified three longterm goals1. Fair trade is a trading partnership, based on dialogue, transparency and respect, that seeks greater equity in international trade. Meaning, pronunciation, translations and examples log in dictionary. A christian ethical perspective revd richard tucker 1. A stagesetting event in which firms of several nationalities present their products or services to prospective clients in a preformatted setting, usually a booth of a certain size which is located adjacent to other potential suppliers. An interview with mike port, ceo of port international, first fairtrade banana importer to europe. In 1998, four european organizations created a widely accepted definition of fair trade.
In addition to standards for traders, there are also fair trade standards for small farmers, contract growers and plantation workers. Fair trade is the practice of buying goods directly from producers in developing. There is no single, regulatory, authoritative body. Free trade definition of free trade by merriamwebster. An explanatory note for secondary products and a nonexhaustive list of products fitting in the secondary products definition is available on the fairtrade international website. Under a balanced trade scheme between two countries, each country will agree to. Fair trade certified the fair trade certified label represents fair trade usa, the leading certifier of fair trade products in the united states. Fairtrade standards aim to protect workers basic rights, including a safe working environment, the right to join a trade. A distinguishing factor between trade fairs and trade shows is size.
They are tailormade for each industry to ensure that were all working together toward the same goal. Fair trade standards for bananas fair trade is a way of trading products that aims to ensure that producers in particular smallholders receive a fair price and a secure livelihood. Fair trade is trade based on the principles of participation and solidarity. The definition of secondary products is included in the fairtrade trader standard. Published in volume 28, issue 3, pages 21736 of journal of economic perspectives, summer 2014, abstract. Fair trade, however, seeks to change that and many other ways in which conventional trade often leaves behind the most vulnerable people. Fair trade standards rigorous standards are the way we fulfill our mission and deliver full benefits to producers and businesses we work with. Fairtrade supported peruvian banana producers, workers and trade unions to establish a permanent platform for dialogue, grievances and conflict resolution in the region. Promoting fair trade the organization raises awareness of the aim of fair trade and of the need for greater justice in world trade through fair trade.
Fair trade tourism our certification standard and criteria. The fair trade movement is an approach to development in which businesses partner with artisans and farmers to create more equitable trading relationships. Fairtrade labeling organization flo, international fair trade association now world fair trade organization, wfto, the network of european worldshops news. It attempts to achieve higher prices for producers, greater availability of. Specifically, fair trade is a trading partnership, based on dialogue, transparency, and respect, that seeks greater equity in international trade. The following table provides a brief overview of the basic differences between fair trade and conventional trade. By requiring companies to pay sustainable prices which must never fall lower than the market price, fairtrade addresses the injustices of conventional trade, which.
Although varying definitions exist for the term fair trade, in 2001 an agreed upon classification was created by fine, a conglomerate of fair trade advocate groups made up of international fair trade association ifat the fair trade labeling organizations international flo, the network of european worldshops news. The literature on fair trade has, from the be ginning, emphasized moral motives that do not square with consumerist egoismmateriali sm e. Fair trade certification is a thirdparty certification process that sets standards for the way coffee is produced and how much a farmerfarming cooperative earns per pound of coffee sold. Fair trade describes a trading partnership that seeks greater equity in international trade and supports development that is socially, economically and environmentally sustainable. The compliance criteria for tourism products fall under the following categories. An additional fair trade dimension to labour rights 8. It advocates for the objectives and activities of fair trade according to the scope of the organization. Fair trade is an initiative that aims to improve the living conditions of producers in developing nations.
Why fair trade why buy fair trade fair trade certified. Whats the difference between fair trade and free trade. Fair trade agreement definition, an agreement or contract between a manufacturer and a retailer to sell a branded or trademarked product at no less than a specific price. Along with its above definition of fair trade, fine, an informal association of the four main fair trade networks fairtrade labelling. The first three are certifiers and the last two are membership groups. With this glossary we would like to guide you through the specific technical terms used by flocert, fairtrade international and the world fair trade organization wfto. A useful definition of fair trade in 1998, four european organizations created a widely accepted definition of fair trade. Fairtrade agreement definition of fairtrade agreement. Thats why were committed to making the right choices the most obvious ones. Fairtrade labeling organizations now fairtrade international, fi, international fair trade association now world fair trade organization, wfto, the network of european worldshops news. The main purpose of the research was to compose a definition of those wfto seeks to help. As the sales volume of fair trade products continues to increase throughout various retailer channels, the profile of the fair trade. The fairtrade minimum price is the minimum that producers are paid when selling their products through fairtrade, and acts as a safety net when market prices drop.
A trade fair is an exhibition where manufacturers show their products to other people in. Raynolds and others published introduction to research on. Free trade is the economic policy of not discriminating against imports from and exports to foreign jurisdictions. Dimension conventional trade fair trade strategy profit is the overriding concern. Fairtrade standard for small scale producer organizations. Fairtrade definition of fairtrade by the free dictionary.
It contributes to sustainable development by offering better. Trade carried on according to a commercial agreement under which distributors sell products of a given class at no less than a minimum price set by the manufacturer. Free trade definition is trade based on the unrestricted international exchange of goods with tariffs used only as a source of revenue. It rules out any proposed definition of fair trade that implies that one party has an obligation. Pdf as large corporations enter into fair trade and assume varying interpretations of fairness, confusion surfaces within the fair trade.
They must make sure that poverty reduction and support to marginalized small producers through trade are in their aims and primary activities. The economics of fair trade american economic association. A condition in which an economy runs neither a trade surplus or a trade deficit. The wfto principles are set by wfto members and are based on common fair trade values, the international labour organisation. This organization, formerly known as transfair usa, was once a part of fairtrade international, but it split off in 2011, adopting a new name and its own set of standards.
Fairtrade and sustainability decent work for some products such as bananas, tea and flowers, fairtrade also certifies plantations companies that employ large numbers of workers on estates. The standard contains wftos 10 principles of fair trade and defines compliance criteria. Business practice and hr, community resources, cultural heritage, environmental practice. Freedom of trade is fair only if it is subject to the demands of social justice. Trade that is considered fair because it respects workers rights and minimizes environmental damage. Pdf introduction to research on fair trade researchgate. It mainly applies to goods produced for the international export market such as bananas, cocoa, coffee, cotton, tea or sugar. Fair trade is described in the strap line of the current. Federal ministry for economic cooperation and development. A useful definition of fair trade in 1998, four key international organizations, based in europe, created a widely accepted definition of fair trade.
Fair trade meaning in the cambridge english dictionary. Fair trade is a labeling initiative aimed at improving the lives of the poor in developing countries by offe. It offers market access to marginalised producers and workers on terms that support sustainable livelihoods and decent working. Fair trade department of politics university of oxford. Trade organization wfto and fairtrade labelling organizations. It aims to cover the average costs of sustainably producing a crop and acts as a safety net when market prices drop. Fairtrades vision is a world in which all producers can enjoy secure and sustainable livelihoods, fulfil their potential and decide on their future. The birthplace of fair trade tourism, south africa is jampacked with a diverse range of exciting fair trade tourism certified places to go and things to do, offering the discerning traveller virtually unlimited options for a holiday adventure with real soul. Fair trade products including learning a traditional art or craft is always disclosed and monitored and does not adversely affect the childrens wellbeing, security, educational requirements and need for play.
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