WTO - World Trade Organisation
What is WTO?
The World Trade Organisation is the only global international organisation dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
When it started?
It was created in 1995 to replace GATT (General Agreement on Tariffs and Trade)
Who is a member of the WTO?
North America, South America, Iceland, Australia, Most of Africa, India, some of middle east and Parts of Europe.
What is Fairtrade?
Fairtrade is about better prices, decent working conditions, local sustainability, and fair terms of trade for farmers and workers in the developing world. By requiring companies to pay sustainable prices (which must never fall lower than the market price). Fairtrade addresses the injustices of conventional trade, which traditionally discriminates against the poorest, weakest producers. It enables them to improve their position and have more control over their lives.
When did fairtrade start?
The first attempts to commercialize fair trade goods in Northern markets were initiated in the 1940s and 1950s by religious groups and various politically oriented non-governmental organisations (NGOs). Ten thousand villages, and NGO within the Mennonite Central Committee (MCC) and SERRV International were the first, in 1946 anf 1949 respectively, to develop fair trade supply chains in developing countries.