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In recent years transnational framework agreements (TFAs) at global and European level have emerged as a new tool of regulation within transnational companies. Based on an outline of the origins of TFAs, a quantitative overview of TFAs and an analysis of the strategies pursued by global and European union federations in concluding TFAs, this article discusses whether and how these new tools advance the internationalisation of industrial relations. The article concludes that a whole range of sector- and company-specific conditions must exist for a TFA to be signed. Where they exist, TFAs give global and European union federations as well as European Works Councils a recognised place in the area of global social regulation, and there are cases in which they have successfully been used to solve local conflicts. Research carried out by the authors suggests that TFAs, if used strategically, have the potential to contribute to the development of international industrial relations at company level and even, in the long term, to facilitate the trade unions' organising activities. However, because of the small number of TFAs, currently fewer than 150, their contribution to the internationalisation of industrial relations has so far remained limited.