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“This is a break through for finance workers in Brazil and in the Americas,” said UNI General Secretary Philip Jennings. “The largest bank in Latin America has committed to respecting trade union rights and sets an example for other banks worldwide. The banking sector is emerging from a financial crisis of its own making. Banco do Brasil is making a strong statement that going forward it cannot be business as usual.”

The Global Agreement is the first UNI has signed with a bank or finance company in the Americas.

Adriana Rosenzvaig, Regional Secretary of UNI Americas, signed the Global Agreement with Banco do Brasil on Monday in the Brazilian capital of Brasilia. Facilitated by Contraf-CUT, the National Confederation of Finance Sector Workers in Brazil, the agreement guarantees the ILO fundamental rights for 110,000 Banco do Brasil workers in Brazil and for more 7,000 workers in other countries in the region.

“As a trade union leader and Brazilian citizen, I’m proud of this achievement. It will guarantee the right to freedom of association and collective bargaining and provide the basis to improve the living conditions of Banco do Brasil workers in all the countries of the American continent where the bank operates,” said Carlos Cordeiro, president of Contraf-CUT and UNI Americas Finance.

The agreement shows the possibility of seeking a common understanding to improve conditions for the bank’s workers, said Banco do Brasil’s Vice-President of Human Resources Robson Rocha, who signed the agreement on behalf of the company.

Workers welcomed the signing of the Global Agreement in Brazil. In addition to guaranteeing freedom of association and the right to bargain collectively, the bank says it will work to prevent health problems related to employment, tackle sexual harassment, avoid discrimination in employment relations and promote equal opportunities.

“This agreement sends a signal that Banco do Brazil intends to internationalise its business while respecting its workers and keeping dialogue with their unions,” said Márcio Monzane, head of UNI Finance.

UNI is the global union for skills and services, representing 20 million members in 900 unions worldwide. It represents 3 million workers in the finance sector.