Conference on fair trade begins

Sunday marked the beginning of a five day conference for members of the International World Fair Trade Organisation (WFTO).

The global economy is set to be a hot topic as members discuss the current downturn and how bankers’ indiscipline and unfair trading has been at the root of the problems.

Also on the objective list is to how to proceed with careful monitoring, development, and assessment of fair trade.

Chief Guest, Dr. RH Abed of Bangladesh, stated that the WFTO needs to work harder on bringing change to the current state of world trading systems.

He went on to comment that the WTFO has been able to bring attention and responsibility among traders to create fair and ethical systems and has helped change consumers’ viewpoints, but that more needs to be done.

Paul Myers, the president of WFTO, said that the organisation has many objectives this year, with a primary focus on how to improve the conditions of those who live in countries with poor socio-economic status via better fair trading principles.

Myers also stated that standards need to rise in terms of Fair Trade Market expansion and more organisations need to be encouraged to join the WTFO alliance.

Currently approximately 70 countries are represented at the WFTO.