International trade is the exchange of capital (money), goods and services across international borders. International trade, including imports and exports , is vital for the growth of a country’s economy.
Imports: Goods or services brought into a country
Exports: Goods or services shipped out of a country
Developed countries try to pay as little as possible for their imports. These imports are often provided by developing countries. When developing countries do not receive a fair price for their exports, it is called unfair trade. Unfair trade prevents the economies of countries from developing.
Tackling Unfair Trade
The Fairtrade Foundation is an organisation that works to ensure that developing countries receive a fair price for their exports. It gives its stamp to products that follow fair-trade rules.
Managing myself
When next in your local supermarket, note how many products you see that display the Fairtrade logo. Are they products you buy regularly?
Case Study: Ben & Jerry’s Fairtrade Ice Cream
In 2005, the Ben & Jerry’s Ice Cream company made a commitment that its five main ingredients
Coffee Sugar Vanilla Cocoa Bananas would be Fairtrade-certified.