FairTrade is market-based approach to alleviating poverty and promoting sustainability through ethical practices. It aims to educate and empower disadvantaged producers in the developing world and connect them to a market, so they too can participate in global trade.

Fair Trade encompasses principles such as:

1. Ensuring no Child Labor and Forced Labor.
2. Respect for the Environment i.e environmentally friendly processes & application of reasonable methods of production.
3. Creating Opportunities for Economically Disadvantaged or Marginalized Producers
4. Fair Payment for the producers in local context.
5. Ensuring Good Working Conditions i.e. a safe & healthy working environment for producers in the regional context.
6. Commitment to Non-Discrimination, Gender Equity and Women’s Economic Empowerment and Freedom of Association.
7. Transparency and Accountability.
8. Fair Trading Practices
9. The development of communities for self-sustainability in terms of social, economic, environmental well-being & capacity building.
10. Promoting Fair Trade

As per IFAT (The international Fair Trade Association):-

“Fair Trade is a trading partnership, based on dialogue, transparency and respect, which seeks greater equity in international trade. It contributes to sustainable development by offering better trading conditions to, and securing the rights of, marginalized producers and workers – especially in the South. Fair trade organizations (backed by consumers) are engaged actively in supporting producers, awareness raising and in campaigning for changes in the rules and practice of conventional international trade.”

Fair Trade is more than just trading. It proves that greater justice in world trade is possible. It highlights the need for change in the rules and practice of conventional trade and shows how a successful business can also put people first.