Fair trade for the developing countries Research Paper

Fair trade for the developing countries - Research Paper Example Fair trade mainly exists in developing countries and it targets specific areas, for instance, the Handicrafts, Coffee Industry, Tea Industry etc, it does so in order to make sure that the workers and the producers are benefitted and their economic stature improves by participating in Fair trade. To understand the concept better, its principles should be well understood and they are as follows:â€Å"Creating opportunities for economically disadvantaged producers, Fair trade is a strategy for poverty alleviation and sustainable development. Its purpose is to create opportunities for producers who have been economically disadvantaged or marginalized by the conventional trading system.† The most important principle of Fair trade is to ensure that there are ample opportunities provided to the producer, the sole aim of Fair trade is to ensure the well being of the workers and the producers and in this process the first is to provide opportunities to the producer because only when th e producer has opportunities, it can be passed on to the workers.â€Å"Transparency and accountability, Fair trade involves transparent management and commercial relations to deal fairly and respectfully with trading partners.† Another important principle of Fair trade is to make sure transparency exists in every activity initiated by it, in the sense that every activity initiated by Fair trade should be without any fusses and problems, fair rules and policies are followed hence ensuring the economic and financial safety of the producer.