* * *
fair trade UK US (also fairtrade) noun [U]
► SOCIAL RESPONSIBILITY a system of trading with a developing country in which a good price is paid for their exports, and the people who produce the goods have good working conditions and are paid a fair wage: »
It's important that the benefits of fair trade reach the poorest communities.
»The use of child labor goes completely against fairtrade principles.
► ECONOMICS an agreement between countries that trade with each other that they will not charge tax on imports from the other country or countries: »
China protested that the EU's actions amounted to a breach of fair trade regulations.
► SOCIAL RESPONSIBILITY, COMMERCE trading that is fair to consumers
Financial and business terms. 2012.