Fair Trade Brands - Secrets of the Worldwide Popularity Coursework

Fair Trade Brands - Secrets of the Worldwide Popularity - Coursework Example Fairtrade 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 Fairtrade. To understand the concept better, its principles should be well understood and they are as follows: â€Å"Creating opportunities for economically disadvantaged producers, Fairtrade 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 Fairtrade is to ensure that there are ample opportunities provided to the producer, the sole aim of Fairtrade 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 the producer has opportunities, it can be passed on to the workers. â€Å"Transparency and accountability, Fairtrade involves transparent management and commercial relations to deal fairly and respectfully with trading partners.† Another important principle of Fairtrade 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. Another important principle is to make sure that the producer gets complete independence, in the sense that he/she shouldn’t have restrictions hampering their growth, it provides a very good platform for the growth of the producers and it also improves their marketing skills by giving them access to the market where they get to know so many things which they wouldn’t have learned had they not participated in Fairtrade.