Analysis of the translation market in Belarus

The translation services market including bengali to english is one of the fastest growing service markets. In Belarus, the translation services market is on the rise, growing in recent years by 20% annually. This is due to cultural and economic integration, the penetration of economic and cultural components.

The companies are expanding their sales markets, cooperating with foreign colleagues. For all this, agreements are being prepared, numerous contracts, agreements that are in great need of high-quality translation. Translation services are very often used by large organizations, although they have their own in-house translators. Perhaps this is due to the increased workload of their translators, or simply the directors decide to rely on special companies to provide translation services, as they are not sure of the professionalism of their translators. This is especially true for simultaneous and oral translation during important negotiations, business seminars and conferences.

The main consumers of services are pharmaceutical and IT companies. These companies need to translate the rules for the use and operation of legal, financial, regulatory documents, schedules, instructions, drawings. Some companies turn to website localization services to boost their sales overseas.

Recent political events have prompted a rapid rise in the translation market in Belarus. Two factors play a major role:

Russia’s accession to the WTO
Creation of a unified customs union of Belarus and Russia
One of the main factors in expecting a rapid growth of the translation industry in Belarus is the tariff policy of Belarusian translation bureaus. Since the cost of a Russian-German translation in Germany starts from 35 euros, while in Minsk it is seven times cheaper. Belarus is well known for its reverent attitude towards the quality of higher education.

Belarus can become the center of the translation industry. There are many organizations and companies in Minsk that can pretend to be a leader.