What are the key principles of Fair Trade?

What are the key principles of Fair Trade?

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There are a number of principles. Different principles take on different meanings for fair trade organizations, but the basic ones are the idea of paying a fair price - that is the real foundation and key in fair trade is that a fair, sustainable price is being paid. Also, fair wages are then being paid to the producers. There are also issues of gender equity, which is an important principle. The environmental sustainability is also an important principle. In addition to payment of a fair price, making some kind of capital available up front is often a principle that is followed. Capacity building is one that a lot of fair trade groups talk about, with reference to not just placing orders, but actually helping businesses to be sustainable and self-sufficient by helping them to develop good management skills, and basically offering them assistance to develop really good businesses. Another important principle is long term relationships, so that fair trade isn't just about this particular transaction but that it is about building a long term relationship with these producers. The benefits of paying a fair wage and environmental sustainability are long term ways for a community to develop, and not just once-off deals.