Economic translation is one of the most popular types of translation today. What are its features, we will consider in the material of the article.
Definition of concept
So, the term "economic translation" refers to the translation of various texts and articles on economic topics. Of course, this kind of it has its own subtleties in comparison with the usual literary one, which we are used to seeing on the pages of school textbooks. A translator who will translate economic texts must be familiar with economic, banking, and audit topics, have an idea about doing business, have negotiation skills and good communication skills.
Development background
Economic translation has become in demand due to the expansion of business and the formation of the state economy. Interaction with the world market has led to an increase in the flow of documents. Most often, economic translation into English is carried out, since it occupies a leading position in popularity and is the main international, in addition to the mandatory state language in Europeancountries.
Types of transfer
Economic translation is divided into types:
- document flow of banking institutions;
- research by marketers;
- plans, projects and documents related to doing business;
- financial reports;
- translation of economic texts and articles;
- securities market;
- translation of audit documents;
- documentation related to financial statements;
- educational and scientific economic literature;
- trends and patents;
- other documentation.
Why you shouldn't save on translation agency services
When conducting business meetings, presentations or conferences online, more and more companies order the services of a professional translator, even if there are people who speak the language in the management. During negotiations, it is not so much a literal translation that is important, but the ability to quickly convey the essence of information, as is the case with simultaneous translation. A specialist who daily practices specific vocabulary will be able to retain the meaning of what was said in the minimum period of time spent. And in business, as you know, time is money.
Each project is led by a manager. Without fail, all the wishes of the customer regarding the result, style, timing are taken into account.
Requirements for specialists
The translator must meet the following requirements:
- have a high school diploma;
- have an education in economics and finance;
- experience as an interpreter, which can be confirmed with documents.
Features
For texts of an economic orientation, the following features are characteristic, which must be taken into account when translating texts:
- Economic articles tend to be very informative. They contain a large number of professional terms that a specialist who works with fiction and texts may not know.
- The presentation of the material is not always logically correct. Therefore, it is important for the translator to grasp the meaning of the text without losing important details.
- A specialist should know not only general vocabulary, but also speech turns, phraseological units and metaphors.
- The translator must know the meanings of some economic terms that are different from their traditional meaning in everyday colloquial speech.
- Economic translation requires not only a large vocabulary, but also brevity in presentation, accuracy, clarity, and maximum compactness.
- In the presentation of texts of an economic orientation, passive speech, as well as the form of the simple present tense, prevails to a greater extent.
- Differences in language systems entail differences in terminology that you need to know in order to make the result as reliable as possible.
What is "Apostille"
There is another reason whyIt is worth contacting professionals from translation agencies. Any document that must pass to any state bodies of another country must necessarily be adapted to its legislation. To make this process as convenient and fast as possible, most countries have come to an agreement to certify the authenticity of documents with one seal. It is called "Apostille". Without this seal, no document will be recognized as authentic. To carry out the entire translation, the specialist must have skills in economic theory and law.
A slight inaccuracy in the interpretation of the text, dialogue, may jeopardize cooperation with the company and cause a break in diplomatic relations as a whole.
Negotiator is an indicator of a company's status
How can the presence of an interpreter affect the success of negotiations and emphasize the status of the company in the eyes of foreign partners or investors? If a professional with high-level translation skills is present at the negotiations, this indicates that the company takes its business seriously and does not skimp on quality. Such a reputation increases the confidence of foreign guests.
Conclusion
The main goal of cooperation between states is to provide maximum benefit for two or more parties in the framework of organizing economic activity.
Economic translation will always be valued alongside medical and technical translations. After all, countries should constructivelyinteract with each other for further mutual development.
