1.Translate the following sentences into Russian, paying attention to the active vocabulary.

1. The aim of the current round of talks is to promote free trade and to avert the treat of increasing protectionism.

2. Decisions could be made on the basis of price, delivery dates, after-sales service or any other variable.

3. The European Union has provisionally agreed to increase the quotas.

4. The United States had no intention of backing down in its bitter row with the European Union over farm subsidies.

5. Construction remains a relatively labour-intensive industry.

6. Unlike Ford, which quickly learned the worst about Jaguar, BMW left Rover alone for too long, failing for example to integrate parts – buying with that of the whole group, so that scale economies were missed.

7. The terms of trade are said to improve if that index rises.

8. The subsidies are designed to cushion farmers against unpredictable weather.

9. Latin American exporters may in future have to look more to the WTO than to inter-regional agreements.

10. Typically voluntary export restrains arise when the import-competing industries seek protection from a surge of imports from particular exporting countries. VERs are then offered by the exporter to appease the importing country and to avoid the effects of possible trade restraints on the part of the importer.

11. Countries with foreign exchange controls are also known as "Article 14 countries," after the provision in the International Monetary Fund agreement allowing exchange controls for transitional economies.

12. The World Trade Organization (WTO) is an international organization designed to supervise and liberalize international trade. The WTO came into being on January 1, 1995, and is the successor to the General Agreement on Tariffs and Trade (GATT), which was created in 1948, and continued to operate for almost five decades as a de facto international organization.

13. Seven rounds of negotiations occurred under the GATT. The first GATT trade rounds concentrated on further reducing tariffs. Then, the Kennedy Round in the mid-sixties brought about a GATT anti-dumping Agreement and a section on development. The Tokyo Round during the seventies was the first major attempt to tackle trade barriers.

14. The term "labor intensive" can be used when proposing the amount of work that is assigned to each worker/employee (labor), emphasizing on the skill involved in the respective line of work.

15. The Office of the United States Trade Representative said today that any immediate unilateral retaliation against the United States for its recent temporary safeguard action on steel would be unprecedented in the history of World Trade Organization (WTO) dispute settlement procedures, and would strike at the heart of the multilateral trading system.

2.Match each word with its translation.

____ ratio ____ manufacture ____ exchange control ____ impetus ____ dumping ____ terms of trade ____ established ____ variable ____ trade liberalization ____ labour-intensive ____ comparative advantage ____ infant industry ____ retaliation ____ division of labour ____ national champion

1) молодая отрасль 2) переменная 3) сравнительное преимущество 4) условия торговли 5) трудоемкий 6) признанный 7) стимул 8) компания – отечественный лидер 9) разделение труда 10) ответные меры 11) промышленное изделие 12) коэффициент 13) валютный контроль 14) демпинг 15) либерализация торговли