Sunday, May 28, 2023

What does it consist of and what are its principles

Celebrated every second Saturday of May since 2002 world fair trade day an initiative that seeks to ensure Fair and equal treatment for producers and workers of developing countries. The movement aims to raise awareness of the economic inequalities imposed by the global economic and commercial system on small producers and traders who struggle to receive fair prices for their products.

Fair trade seeks to improve the conditions of producers and workers in developing countries. It is based on the principle that products should be marketed at reasonable prices that cover production costs and allow producers to earn a decent income.

Fair trade principle

The World Fair Trade Organization sets out 10 principles that fair trade organizations should adhere to and follow in their work:

  • Create opportunities for economically disadvantaged producer organizations: The organization seeks to reduce poverty through trade, ancillary workers and producers.
  • Transparency and Accountability: The organization is transparent in its management and commercial relations, involving all links in the supply chain.
  • Fair Trade Practices: To seek the social, economic and environmental welfare of economically disadvantaged producers and workers.
  • fair pay: The objective is the payment of a locally established minimum living wage. Fair pay consists of fair prices and fair wages.
  • Guarantee the absence of child labor and forced labor.
  • Commitment to non-discrimination, gender equality and economic empowerment of women, and freedom of association.
  • Good Working Condition: Guarantees of health, working hours and safe working conditions for manufacturer and supplier organizations.
  • Growth potential: Improving the development of producers and workers living in conditions of economic marginalization, through Fair Trade.
  • Promoting fair trade: Raises awareness of the objectives of Fair Trade and the need for greater fairness in world trade. It defends the objectives and practices of Fair Trade in its area of ​​operation.
  • Respect for the Environment: This includes sustainable sourcing and production, reducing waste, packaging and transportation, and most prominently helping people deal with the climate crisis.

In addition, fair trade also strives to promote gender equality and support local communities. This is achieved through the implementation of community development projects, such as the construction of schools and hospitals, and the promotion of sustainable and eco-friendly agricultural practices.

Ultimately, as consumers, we can support fair trade by purchasing fair trade products and promoting their use in our communities.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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