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Finance industry trade union leaders were concerned to find alternatives for Greater Resilience against failure of financial industry policies based on market fundamentalism.

ASEAN Economic integration is moving forward and will come into effect in 2015. With a population of 3.5 billion people and a combined GDP of US$ 17 trillion, Christopher Ng UNI Apro Regional Secretary cautioned the workshop on the danger of a mammoth economic integration that has no room for social dialogue and dimension. Christopher appealed to the European colleagues to share their experience on economic integration that can help trade unions in the region respond to the challenges ahead.

The workshop deliberations were on following:

· Firewalls and Ring Fencing – Post-Crisis Financial Regulations in Europe

· Policy Coherence to Increase Penetration of Financial Services in Community- Role of Unions

· Restoring Trust amongst Customers: TU role in promoting customer-oriented business models – Japanese Experiences

· Economic Growth vs Austerity – Different Regional Perspective – Brazil, Italy, Portugal, South Africa and United Kingdom

· Asia’s Global Responsibility to Increase Financial inclusion amongst marginalized populations.

“Trade unions can turn crisis into opportunities,” said Ben Ventor DGS of SASBO, “we are modernizing using new ICT tools such as smart phones and tablets to reach out to members to build 21^st Century trade union.” Joe Kokela President of SASBO also said that SASBO is taking an active role with a new social accord in South African governments development programs.

In Portugal, compensation for dismissals has been reduced from 30 to 12 days. “Trade unions believe austerity is not a solution for labour market or the economy as a whole in Portugal,” said Rui Riso President of SBSI . Riso emphasized that problems faced by workers need a global solution and they count on GUF such as UNI.

Catherine Jikunan GS Sabah Banking Union Malaysia stressed that the ASEAN Bank Union Council and ASETUC should be strengthen to find space for meaningful social dialogue in ASEAN.

Addressing the issues of temporary workers is a major challenge in Brazil said Rita Berlofa from CONTRAF CUT. Beriofa gave an overview highlighting the achievements of salary revisions well over the inflation through collective bargaining by trade unions. She said the government managed to save substantially due to low interest rates following the GFC that could meet the direct cash transfers to Bolsa famila program.

“In UK, 75% bank accounts are under four main banks who make huge profits but continue to retrench employees,” lamented Dominic Hook, National Officer UNITES UK. Barclays Bank’s business practices have been reviewed and 34 recommendations were proposed to improve bank’s operation by the Salz report. Hook said that many of those recommendations were similar to the proposals suggested by unions in UK even before the financial crisis.

Luc Pletinckx LBC NVK Belgium cautioned that ASEAN economic integration should only adopt good practices from the European Economic process. Mauro Bossola DGS of FABI Italy suggested that trade unions monitor different taxation practices of ASEAN countries as taxation systems are critical to influence investment decisions citing on the different taxation systems in Europe. Patrcik Sim from DBSSU Singapore explained how Singapore has introduced new regulations of taxation in par with the other financial centres.

Arvid Ahrin DGS Nordic Financial Unions highlighted the regulatory reforms taking shape in Europe and various trade union responses to influence EU decision makers. Jose P Umali National President of NUBE Philippines explained the Financial Regulation and Supervisions of banks in Philippines and said that the appreciation of Philippines Peso has reduced country’s foreign debt by one third.

Japanese trade unions representing insurance and banking shared experiences from initiatives and new business models introduced to increase financial inclusiveness and restoring trust amongst customers at the workshop.

Marcio Monzane Head of UNI Finance introduced Financial Stability Board [FSB] organizational structure, functions and its priorities. Jayasri Priyalal Director for UNI Apro Finance introduced the peer review systems of the FSB and emphasized on the use of a bottom-up approach for effective regulation with coordination and engagement of trade unions across borders.

Hari Banerjee AIBOBOA India, Laxman Prasad Adhikari FIEUN Nepal and Shabir Muhammad from HBEFP Pakistan shared the situation of their respective countries following the global financial crisis.

Hang Shr-Shian General Secretary of Taiwan Federation of Financial Unions (TFFU) gave an overview of the financial system in Taiwan and relations with Peoples Republic of China

“UNI Finance is a global organization that builds integration and capacity for unions to work together,” said Edgardo in his closing remarks, “there is a need to implement similar workshops in all regions as it has been a great learning experience.” Edgardo assured that UNI Finance will set up a committee to familiarization itself with the ASEAN Economic integration process and to share the positive experiences of European integration with social dimensions and political responsibility with the trade unions in the Asia and Pacific.

On behalf of over one million finance industry employees represented through their trade union leaders , the UNI Finance President thanked Yutaka Seki UNI Apro Finance President and UNI Liaison Council Japan for their excellent arrangements special care and hospitality extended to the guest by the Japanese colleagues.

Please refer to the related files for all Power Point Presentations at the workshop.

For pictures taken at the workshop, please visit this link: http://www.flickr.com/photos/uniglobalunion/sets/72157634315064166/