Fair Trade as a Solution for Inequality on the Global Market - Corporate Perspective

• Main Author: Sandra Lovric
• Format: Article
• Language: English
• Published: Effectus University College for Finance and Law 2016-03-01
• Series: FIP: Journal of Finance and Law
• Subjects: Fair Trade; corporate social responsibility; sustainable development; business ethics
• Online Access: http://effectus-uciliste.hr/images/fip_v4i1/4_Utjecaj_pravedne_trgovine.pdf

New alternatives to free trade are evolving at the global market; their aim is to bring more ethics and morality into the relations between the trading parties (producers, corporations and buyers). This article analyses one of such alternatives i.e. Fair Trade from the perspective of influencing change of corporate politics. Due to the rising awareness of buyers about the origin of goods and the initiatives of forcing corporations into changing their practices based on unethical treatment of workers in the 3rd world countries, alternative ways of trade are becoming part of traditional corporate environment in the free trade chain. By elaborating fundamental principles of certification process, the article gives an answer to the question of creation of added ethical value in the aspect of positioning corporations in the “new economy”.