San Diego Finance

Feb 28 2018

Definition of donate

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Fairtrade – The Definition

Fair trade, defined simply, is when producers in developing countries are paid a fair price for their work, by companies in developed countries.

It’s when the price we pay for products gives enough to producers for them to afford life’s essentials – like food, education and healthcare.

Fair trade was created as an alternative way of doing trade. It is based on partnership, which means that the interests of farmers and workers are just as important as other commercial considerations. It also represents a solution to poverty and a model for development.

If you want to see fair trade in action, take a look at www.traidcraftshop.co.uk

Key Principles of Fair Trade

  • Trading practices are fair and not one-sided.
  • Prices paid are fair and sufficient for producers and workers to earn more than enough to meet their day-to-day needs.
  • Payments are often made in advance to ensure the supplier can fulfill orders.
  • Producers and workers have a voice, whether organised into groups or involved in workplaces where there is freedom of association.

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