These goods are products that are purchased with the idea of fair trade in mind. Fair trade is an organized movement that is tailored towards improving conditions for developing countries in the global market. It attempts to make trade conditions fair so that no one country has a monopoly on any export and each country’s stock of usable goods is purchased by more financially endowed countries in reasonable amounts.
How Fair Trade Works
Fair trade is admittedly loosely organized. As no rules regulate what fair trade means, it is up to the discretion of the company involved as to what regulations and limitations they are going to impose on their business practices in order to achieve a process that they deem to be fair. Many groups have gotten together in the past to try to organize an even more regulated version of governmentally sanctioned fair trade but this has not worked to full acceptance in the past. When it gets down to brass tacks, it is actually a good thing that this has not been accepted. Leaving it up to each business individually helps build up the reputation of small businesses with developing countries in a much greater way than large businesses that refuse to regulate their trade past government requirements. This way, small businesses, by establishing friendly networks of foreign trade, can reach the same status as large businesses internationally. This is a feat that small businesses, up against titans like wal-mart, would not be able to accomplish on their own territory, their credibility must be gathered steadily through overseas trade. With this system in place many businesses have helped to foster growing corporations in third world countries.