Abstract
Fair Trade connects developed countries, where greater sustainability and justice is being sought, with the needs of developing countries where economic and social changes are needed most. It enables citizens who are consumers to favor the producers of poorer countries. This is a manifestation of humanity that helps producers to escape acute poverty and lead dignified lives. Fair trade is becoming a very “hot” topic, not only for businesses but also for consumers, who are trending towards buying Fair Trade products. By buying such products, customers express solidarity with the producers of Fair Trade products. This article aims to identify the importance of Fair Trade. Methods of analysis, synthesis, deduction, and comparison are used to establish the current situation of Fair Trade in Slovakia and the Czech Republic, as well as the perception of Fair Trade held by Czech and Slovak customers.
Highlights
Among the major challenges that face developing countries are the continuing small number of jobs, lack of healthcare and social security, low wages, weak labor laws, and lack of environmental protection
The modern history of Corporate Social Responsibility (CSR) began to develop in the 1950s, when the concept of CSR fully penetrated the literature of managers
Lead campaigns for changes in the rules and practice of conventional international trade; Provide quality products at a reasonable price with a guarantee of origin; and Enable consumers to contribute to the reduction of poverty by buying Fair Trade products
Summary
Among the major challenges that face developing countries are the continuing small number of jobs, lack of healthcare and social security, low wages, weak labor laws, and lack of environmental protection. Producers from developing countries around the world sell their products for very low to "unfair" prices, while the ideal consumer buys these products at prices that are usually much higher in comparison, due to the large number of commercial intermediaries (Hraskova & Bartosova, 2014). The initiative of Fair Trade was created and seeks a fair distribution of income from trade between developing and developed countries. The Fair Trade movement was created after World War II. The first non-profit organization in the world was an American nongovernmental organization, which started trading with poorer countries at the end of the 1940s (Kuldova, 2012)
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