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What is meant by fair trade?

Updated: 9/17/2023
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13y ago

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The general term means an equitable exchange between producers and consumers. Historically, many situations, including colonialism and tariffs, have affected trade.

The more modern usage was defined by trade organizations that established a system (Fair Trade) beginning in the 1960's. Fair Trade is a trading partnership, based on dialogue, transparency and respect, that seeks greater equity in international trade. This includes economic, economic, and ethical considerations.

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