Fair trade Essay Example | Topics and Well Written Essays - 1500 words

Fair trade - Essay Example World trade has been increasing at an average rate of six percent for the last 20 years, which is twice the rate of world output. The integration of the world economy with the help of trade has lifted the living standards of the people within these developing nations, which is a positive sign. Sustained and consistent economic growth requires policies that can open trade and investment with the rest of the world. There is proof to it and it is that there has not been a single nation that has achieved economic stability without being open to the world for trade. International trade requires liberalization, i.e., openness to all and sundry within the world no matter what. The living standards are in direct proportion with them. There is a high need to promote and liberalize the manner in which trade is carried out within the world economy. It needs to be more generous to everyone and anyone as well as helpful for the developing nations so that more and more trade is carried out between the economic world markets. (Miles, 2006) Agriculture is one such example of being more liberal for the international trade market. Liberalization by both industrial and developing nations is necessary to realize trade’s potential that acts as a driving force for economic growth and de velopment. It is up to the industrial and developed nations to be more broadminded towards the developing ones so that trade barriers are removed in the wake of open trade between all the countries listed in the economic world. Fair trade is a social movement which is organized in nature and it basically presents a model which is accepted worldwide. It comes directly under the norms of the international trade regimes whereby it promotes payment of a fair price in accordance with the social and environmental standards in different areas of production related with goods and supplies. Fair trade has the emphasis on exporting goods and