Fair Trade means different things to different people, but the many definitions always center around the exchange of goods based on principals of economic and social justice.
In 1998, four European organizations created a widely accepted definition of Fair Trade:
“a trading partnership, based on dialogue, transparency and respect, that seeks greater equity in international trade. It contributes to sustainable development by offering better trading conditions to, and securing the rights of, marginalized producers and workers – especially in the South. Fair Trade organizations, backed by consumers, are engaged actively in supporting producers, awareness raising and in campaigning for changes in the rules and practice of conventional international trade.”-FINE (1998)