Economic translation today is one of the most popular types of translation. What are its features, we will consider in the article.
Definition of a concept
So, the term "economic translation" means the translation of various texts and articles on an economic topic. Of course, this kind of it has its subtleties in comparison with the usual literary, which we used to see on the pages of school textbooks. The translator, who will translate economic texts without fail, should be familiar with the economic, banking, and audit topics, have an idea of doing business, have negotiation skills and high 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 workflow. Most often, an economic translation into English is carried out, since it occupies a leading position in popularity and is the main international, in addition to the compulsory official language in European countries.
Types of Translation
Economic translation is divided into types:
- document management of banking institutions;
- research conducted by marketers;
- plans, projects and documents related to doing business;
- financial reports;
- translation of economic texts and articles;
- stocks and bods market;
- translation of audit documents;
- documentation related to financial statements;
- educational and scientific economic literature;
- trends and patents;
- other documentation.
Why you should not save on translation agency services
During business meetings, presentations or conferences online, more and more companies are ordering the services of a professional translator, even if there are people who speak the language in the manual. During negotiations, it is not so much a literal translation that is important as the ability to quickly convey the essence of information, as is the case with simultaneous translation. A specialist who practices specific vocabulary daily will be able to preserve the meaning of what has been said for a 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 diploma of higher education;
- have an education in economics and finance;
- work experience as a translator, which can be confirmed with the help of documents.
Features
Texts of an economic orientation are characterized by the following features that must be taken into account during the translation of texts:
- Economic articles are usually 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.
- The specialist should know not only the general vocabulary, but also speech turnovers, phraseological units and metaphors.
- The translator must know the meanings of certain economic terms that are different from their traditional meanings in everyday colloquial speech.
- Economic translation requires not only a large vocabulary, but also brevity, accuracy, clarity, and maximum compactness.
- In the presentation of texts of an economic orientation passive speech predominates to a greater extent, as well as a simple present tense.
- The difference in language systems entails differences in terminology that you need to know in order for the result to be as reliable as possible.
What is Apostille
There is another reason why you should contact the professionals from the translation agency. Any document that must be submitted to any state body in another country must pass through adaptation to its legislation. To make this process as convenient and fast as possible, most countries have come to an agreement to authenticate the documentation with one seal. It is called the Apostille. Without providing this seal, no document will be deemed authentic. To carry out the entire translation, a specialist must have skills in the field of economic theory and law.
A small inaccuracy in the interpretation of the text, dialogue, may jeopardize cooperation with the company and cause the severance of diplomatic relations as a whole.
Negotiator - an indicator of company status
How can the presence of a translator affect the success of negotiations and emphasize the status of the company in the eyes of foreign partners or investors? If a professional who possesses high-level translation skills is present at the negotiations, this indicates that the company takes its business seriously and does not save on quality. This reputation enhances the confidence of foreign guests.
Conclusion
The main goal of cooperation between states is to ensure maximum benefit for two or more parties in the framework of the organization of economic activity.
Economic translation will always be appreciated along with medical and technical. After all, countries must interact constructively with each other for further mutual development.