Wednesday, August 7, 2019

Explain what the term 'fair trade' means and what are the importnent Essay

Explain what the term 'fair trade' means and what are the importnent issues for the business world - Essay Example The Fair Trade Federation states that members are committed to seven key concepts: to pay fair wages; to support participatory workplaces; to ensure environmental sustainability; to supply financial and technical support; to respect cultural identity; to offer public accountability; and to educate consumers. Fair trade consists of 10 standards a business must adhere to. These include: working to create opportunities for disadvantaged producers; transparent management and accountability; helping producers to develop independence; raising awareness and promoting the opportunities of fair trade; paying a fair price; offering gender equality; providing safe and healthy work environments; respecting the UN Convention on the Rights of the Child; working toward environmentally healthy approaches; and fair trade relations—taking into consideration the social, economic and environmental well-being of producers and not taking advantage of the producers by profiting at their expense. 2 To be included as a fair trade business, one must first determine what is considered â€Å"fair†. Fair Trade Resource Network (FTRN) says that being fair constitutes more than just paying a fair wage. â€Å"It means that trading partnerships are based on reciprocal benefits and mutual respect; that prices paid to producers reflect the work they do; that workers have the right to organize; that national health, safety, and wage laws are enforced; and that products are environmentally sustainable and conserve natural resources.†3 The products included in fair trade business are numerous. These include: apparel, accessories, art, crafts, agricultural products, furniture, cards, holiday items, house wares, jewelry, music and musical instruments, paper, pottery, rugs, textiles, toys and others. For consumers, it’s not always easy to determine if a product comes from a fair-trade business.

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