Английский язык. Практический курс для решения бизнес-задач
Шрифт:
1. With this term of settlement the exporter insists on receiving payment before shipping or dispatching the goods.
2. An order drawn and signed by the exporter (the drawer) addressed to the importer or the bank (the drawee) to pay the exporter (the payee) a certain sum on a specific day.
3. Any plant, machinery, equipment or accessories required for manufacture or production, either directly or indirectly, of goods or for rendering services, including those required for replacement, modernization, technological upgrading or expansion.
4. Items, which participate in or are required for a manufacturing process, but do not necessarily form part of the end-product. Items, which are substantially or totally consumed during a manufacturing process.
5. Goods, which can directly satisfy human needs without further processing.
6. Processing of or working upon raw materials or semi-finished goods supplied to the job worker so as to complete a part of the process resulting in the manufacture or finishing of an article or any operation which is essential for the aforesaid process.
7. To make, produce, fabricate, assemble, process or bring into existence, by hand or by machine, a new product having a distinctive name, character or use and shall include processes such as refrigeration, re-packing, polishing, labeling.
8. This term relates to the form of settlement whereby companies simply invoice their customers and expect to receive payment in due course, usually 30, 60 or 90 days after invoice date.
9. An individual, firm, society, company, or corporation.
10. Basic materials which are needed for the manufacture of goods, but which are still in a natural, unrefined or unmanufactured state.
11. A part or a sub-assembly or assembly for substitution, that is ready to replace an identical or similar part or sub-assembly or assembly. It includes a component or an accessory.
Terms:
jobbing, capital goods, person, bill of exchange, consumables, open account trading, spare part, consumer goods, manufacture, raw material, advance payment
Exercise 3. You are a journalist writing for The Moscow Times and you are to interview a WTO official about the policies and goals of this organization. Make a dialogue between these two individuals using the following briefing materials.
The World Trade Organization (WTO), established on January 1, 1995, is the only global international organization dealing with the rules of trade between nations. It was created by the Uruguay Round of negotiations over a 14-year period and has 144 member countries (as of January 2002). At the heart of the WTO are the various agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. These agreements cover a range of topics:
–Reductions in tariffs;
–Fairer competition in agricultural trade;
–Textiles trade;
–Trade in services;
–Protection and enforcement of intellectual property;
–Issues related to antidumping, export subsidies, and safeguards; and
–Other non-tariff barriers.
The goal of the WTO is to help producers of goods and services, exporters, and importers conduct their business. The agreements have three main objectives:
–To help trade flow as freely as possible,
–To achieve further liberalization gradually through negotiation, and
–To set up an impartial means of settling disputes.
Exercise 4*. Fill in the blanks using terms given below.
Russia’s WTO Accession:
What are the macroeconomic, sector, labor market and household effects?
Accession to the WTO is likely to generate substantial benefits for Russia – about 7% of the value of……. in the medium term and considerably more in the long term. These benefits would come from increased…… by…….. service providers, due to……. to……. the services sectors to foreign investors; from increased……. due to an inflow of imported technology as the result of a reduction in Russian………; and from the improved treatment of Russian exporters in……… cases. The main export sectors are likely to experience the greatest…….. Sectors that export little and that have relatively high……… are likely to……. in the medium term. In the long term, an improvement in the……… should expand the capital stock and incomes.
The vast majority of……… will gain from WTO accession. Government…….. are crucial in helping with the short-run…….. impact from the accession, especially for the poorest members of society. Despite gains in the medium to long term, during a……… period it is possible that many individuals will lose. There will be………workers who have been……… and will need to find new employment. These workers will suffer losses from transitional unemployment and are likely to…….. expenses related to…….. or………. Thus, despite the likely substantial improvement in the……….. for almost all Russian after accession to the WTO and after adjustment to the new equilibrium, the transition will require a strong role for……….
WTO accession is an important step toward an open economy model of development. These results are consistent with international experience of the past 20—30 years that shows that rapid and……….. economic growth has occurred only in countries that progressively liberalized import protection, and who provided……… to exporters that……… the tax that import protection imposes on exports.
Source: Thomas Rutherford, University of Colorado, David Tarr, The World Bank (abridged)
Terms:
sustained, offset, safety nets, relocation, adverse, public policy, transition, return on investment, consumption, unskilled, tariff barriers, living standards, FDI, incur, households, contract, multinational, commitments, liberalize, productivity, antidumping, expansion, import protection, displaced, retraining, incentives
Exercise 5. Translate into English.
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