Question: International Fair Trade Agreements
Fair trade is a strategy to remove global trade barriers and ensure an equitable and open arrangement between producers, sellers, and consumers. International Fair Trade Agreements (IFTAs) are formal pacts between two or more nations that create better market access and profit for marginalized producers. All IFTAs contain principles that are aimed at improving life through higher wages, more humane working conditions, and development of new capabilities. While there is general agreement that IFTAs broaden trade relations, there are varying opinions on the level of economic benefit or improvement in living conditions for those regions or nations using IFTAs.
To prepare for this Discussion:
- Review the book excerpt, "Part I: Human rights as the bedrock of social justice." Consider economic and political influences on poverty.
- Review the International Trade Administration website (ITA) and the International Trade Administration article, "Free Trade Agreements" for comprehensive information about Free Trade Agreements.
- Review the United States Department of Agriculture article, "Free Trade Agreements." Pay attention to various types of trade agreements and negotiations taking place internationally and regionally.
- Review the article, "NAFTA's Economic Impact." Take note of various perspectives on the impact of NAFTA. Consider these issues as they relate to other Foreign Trade Agreements.
- Use the Learning Resources and search the Internet for examples of IFTAs.
- Select one IFTA to use for this Discussion and consider how the IFTA has impacted poverty-both positively and negatively-in a given nation or region of the world.
With these thoughts in mind:
- Post description of the International Free Trade Agreement you selected. Explain at least two ways in which the IFTA has impacted poverty-both positively and negatively-in a given nation or region of the world.