Opportunities for agricultural exports are provided thanks to fair trade certification Large demand Fair trade is an international certification managed by the Fair Trade Labeling Organizations International (FLO). This form is internationally recognized certification for tea, coffee, cocoa, spice and handicraft products. According to the Vietnam Rural Industries Research and Development Institute (VIRI), nearly 95 percent of fair trade certified goods are used for exports. EU consumers are paying greater attention to fair trade certified goods as the European Parliament issued a resolution in order to promote the application of fair trade certification in the EU market back in 1998. Purchasing power of fair trade certified goods has rapidly increased from US$815 million in 2004 to around US$3.4 billion a year in recent years. Fair trade certified cocoa has been present at more than 120 markets, while certified handicraft exports to the EU have increased by 13 percent a year on average. An EU market survey revealed that three-quarters of those surveyed would buy fair trade certified goods and 30 percent of them would be prepared to pay 10 percent more for such products. To achieve certification, these products must follow environmentally-friendly and sustainable development standards and ensure no discrimination… Read full this story
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