What is fair trade

I wonder what ' Fair Trade' is. Someone who creates and makes something in the UK cannot compete with those in the third world due to manufacturing costs and subsidies.
I.e., a cabinet maker here has to earn a living in our economy, someone in Asia or Africa making the same product will not need to earn so much to live and have many different agencies helping them.
Manufacturing in the Uk is almost at a zero because we cannot compete with China or Asia what happens when those countries have the same income as we do, they will have the business and we will have a service industry that is not sustanible.