â€śFair trade is, fundamentally, a response to the failure of conventional trade to deliver sustainable livelihoods and development opportunities to people in the poorest countries of the world…Poverty and hardship limit people’s choices while market forces tend to further marginalize and exclude them. This makes them vulnerable to exploitation, whether as farmers and artisans in family-based production units or as hired workers within larger businesses.â€ť World Fair Trade Organization (http://wfto.com/)
By definition, fair trade is a commercial partnership based on dialogue, transparency, and respect. The goal of fair trade is equity in commerce which leads to sustained development and safeguards marginalized producers and workers. To that end, fair trade organizations commit to heighten public awareness and form a network committed to campaign for international trade rules and practices which benefit small and marginalized commercial enterprises worldwide.
â€śAs a result, fair trade is both sustainable and socially transforming. The fair trade exchange of goods and services is much more than a financial transaction; it engenders positive social, economic, and environmental benefits. Fair trade increases economic value in the community, reduces poverty and inequality, regenerates the resource base that produces the original product, and engages producers and workers to participate in their organization.â€ť (http://www.palestinefairtrade.org/).