3. November 9,20...

Dear Sirs,

With reference to the discussions we had in Moscow concerning the es­tablishment of the joint venture between our companies we wish to inform you as follows:

1. Under the laws of our country a joint venture can be established with a minimum capital of... which can be increased in the course of operation. The income to be generated in this country is taxable. Apart from that the joint company will have to pay indirect taxes like stamp duties on invoices, turnover tax, VAT and different customs duties.

2. The scope of activities of the joint company will fully coincide with your present activities and may include construction, rendering of services, promotion and market research.

3. We feel it fair to exercise equal management and to have joint deci­sions.

4. As you have evidently realized, your participation in the joint venture 'Щ\\\ give you considerable benefits and advantages in our market.

You are sure to know that at present under our commercial laws foreign companies can act only as subcontractors to our local companies. With the creation of the joint venture we will be equal to local companies and will have the right to participate in consortia as contractors. As a result you will be entitled to export part of the profit to your country.

Following the above we would advise you to issue quick instructions to start talks on setting up a joint company, if you are really interested in en­tering our market.

Awaiting your decision, we remain

Yours faithfully,

capilat n капитал

to generate income получать доход, прибыль

taxable а облагаемый налогом, под­лежащий обложению налогом

indirect tax косвенный налог

stamp duty гербовый сбор

turnover tax налог с оборота

VAT (value added tax) налог на до­бавленную стоимость customs duties таможенные сборы promotion п рекламно-пропаган-

дистская деятельность market research изучение рынка to exercise equal management осуществлять руководство на па­ритетных началах

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Hold the talks along these lines.

Discuss with the representative of the company the tentative financing plan and your possible involvement in the project.

XI. Express the contents of the above letters in telexes.

XII. Study these translation difficulties. Translate into English.

Translation difficulties:

Hold the talks along these lines.

At the meeting with the representative of the company find out all par­ticulars relating to setting up joint ventures in his country.

4. May 12, 20...

Dear Sirs,

Referring to the preliminary discussions about our possible cooperation in the construction of Refinery in this country we are glad to tell you that the Government has made a decision to construct the above project in the Joint Sector with our company being a joint venture partner from the Gov­ernment side. It has also been announced that the project will be constructed under a turn-key contract on a consortium basis.

In view of the keen interest here towards expansion of relations with your country our business circles welcome your participation in the con­struction of the above project as our partner in the joint venture.

Thus, we are sending you major guidelines regarding regulations on es­tablishing joint ventures with foreign companies in the Joint Sector.

We are also enclosing for your consideration a tentative financing plan for setting up our joint company.

Proceeding from your consent expressed earlier to participate in the eq­uity capital, which is usually allowed by cash remittance and in some cases, subject to approval by the Government, by capitalization of supplies, we plan your participation at ...%. We also need your opinion about the per­centage of the public issue of shares and your participation in loans. We take it that we came to the conclusion during our previous talks that the controlling interest will belong to our side.

For your information, the Government has entrusted us with preparing a technical and commercial proposal for the construction of the project.

In this connection we are sending you a questionnaire on your possible involvement in the project. We need your information to determine the split of deliveries and services between our company and other members of the future consortium.

We are looking forward to your reply.

Yours faithfully,

Joint Sector сектор совместных предприятий и фирм

equity capital капитал в форме ак­ций

cash remittance денежный перевод

subject to approval при условии одобрения

capitalization п капитализация, превращение в капитал

Мы предлагаем провести пере­говоры ... в Москве и начать их 2-го декабря сего года.

Можно надеяться ...

соглашение ... , которое вскоре будет подписано ...

Вы наверняка знаете, что ...

члены консорциума, не выпол­няющие свои обязательства

в том числе

приобретенный нами ... опыт

... дает нам уверенность в ус­пешном строительстве этого объекта

Выражая наше принципиальное согласие, мы ...

после тщательного изучения представленной вами тендер­ной документации ...

public issue of shares выпуск акций для свободной продажи

loan п заем

controlling interest контрольный пакет(акций)

questionnaire п опросный лист, воп­росник

split п разбивка, разделение

We suggest holding talks... in Mos­cow, starting on December 2, this year.

There is every hope ...

the ... agreement to be signed shortly ...

You are sure to know that...

the defaulting members

including

the experience we have gained ...

... gives us confidence that we shall construct the project suc­cessfully

While giving our consent in prin­ciple, we ...

having carefully studied the tender documents submitted by you ...

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согласованный общий график comprehensive schedule, agreed by

the parties Задержка была вызвана необхо- The delay was necessitated by ...

димостью ... внести в повестку дня ... вопрос to put on the agenda ... the ques-

об уточнении ... tion of specifying ...

1. Мы предлагаем провести переговоры по образованию консорциума подрядчиков для участия в торгах на строительство электростанции в Москве и начать их 2-го декабря сего года. 2. Можно надеяться, что подряд на строительство объекта будет передан консорциуму подряд­чиков. 3. Соглашение о консорциуме, которое вскоре будет подписано, не будет предусматривать право членов на выход из консорциума. 4. Вы наверняка знаете, что члены консорциума совместно и каждый порознь несут ответственность перед заказчиком. 5. Члены консорциума, не выполняющие свои обязательства, могут быть исключены из консорци­ума.

1. 2 декабря, 20... г.

Уважаемые господа!

Мы с удовлетворением подтверждаем получение Вашего письма от 15 ноября 20... г. и благодарим за приглашение принять участие в кон­сорциуме на строительство завода в ... .

Как Вам, по-видимому, известно, мы завершаем в ближайшее время строительство аналогичного завода в ... и будем иметь мощные ресурсы (facilities). Приобретенный нами за годы строительства опыт дает нам уверенность в успешном строительстве этого объекта, в случае если наш консорциум выиграет этот тендер.

Мы располагаем определенными возможностями для поставки тех­нологического оборудования, и мы хотели бы иметь более подробную информацию об объемах и сроках поставки.

Выражая наше принципиальное согласие, мы оставляем за собой право оговорить в целом все условия нашего участия в консорциуме в ходе предварительных переговоров предполагаемых участников консор­циума после тщательного изучения представленной Вами тендерной документации.

Изучение тендерной документации займет у нас около месяца, по­этому было бы желательно организовать такую встречу не ранее 25 ян­варя 20... г.

С уважением,

г. 5 августа, 20... г.

Уважаемые господа!

Мы получили Ваше письмо, в котором Вы пишете, что в соответствии с нашим консорциальным соглашением мы, как член консорциума, долж­ны были представить Вашей компании, как лидеру консорциума, гра­фик на свою часть поставок и услуг в течение 2-х месяцев с даты подпи­сания контракта между нашим консорциумом подрядчиков и Заказчи­ком, т.е. месяц тому назад.

Мы понимаем, что задержка в представлении вышеуказанного гра­фика поставила Вас в затруднительное положение, так как Вы вынуж­дены задержать передачу Заказчику согласованного общего графика поставок и услуг консорциума.

Одновременно хотим обратить Ваше внимание на тот факт, что вы­шеуказанная задержка была вызвана необходимостью дополнительно­го уточнения разделения поставок и услуг между нашей фирмой и од­ним из членов нашего консорциума.

Пользуясь случаем, просим Вас внести в повестку дня следующей встречи участников нашего консорциума вопрос об уточнении обяза­тельств членов консорциума.

С уважением,

XIII. a) Read the text and single out its main facts.

2. Present the facts in a short review.

3. Discuss the problem raised in the text, offer your solution to the problem.

TOUGHER MEASURES NEEDED TO COUNTER MACROECONOMIC EFFECTS OF MONEY LAUNDERING

The globalization of the world economy and the growing efficiency of capital markets allow individuals and firms to shift vast amounts of money relatively freely between domestic financial markets and from one country

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353

to another. The efficiency of capital markets and their freedom from restric­tions on capital movements have also provided criminal elements with an easy means to launder internationally money acquired from illegal activi­ties in particular countries. Although difficult to measure, the magnitude of the sums involved and the extent of the criminal activities that generate this "income" have implications for both the domestic and the international allocation of resources and macroeconomic stability.

Money laundering and measures to counter it have therefore become the focus of intense international attention in recent years.

Money laundering is, by definition, a concealed activity. The "dirty" money that is cycled through the international capital "laundromats" is gen­erated by criminal activities that take place far from the eyes of the authori­ties. These activities include, in particular, the production and distribution of illegal drugs, as well as theft and embezzlement, insider trading, traffic in nuclear materials, usury, and prostitution. Although it is impossible to mea­sure directly the size of the net financial gains that accrue annually to those who engage in these activities worldwide, the value of the total stock of laundered money is probably much larger than the GDP of many countries.

The concentration of vast sums of money in laundering operations has generated progressively more sophisticated attempts to launder the assets. Laundering transactions now involve a broad range of financial instruments, including derivatives. And the intermediaries have increasingly included such traditional financial institutions as banks and near-banks, brokers and deal­ers in securities, and foreign exchange dealers, as well as unconventional and parallel financial markets.

This huge money stream may exert an impact on macroeconomy.

At the national level, large financial flows related to money laundering could influence variables such as exchange rates and interest rates. At the international level, capital movements originating in one centre can easily spread to others, thus transforming a national problem into a systemic one.

The transparency and soundness of financial markets are key elements in the effective functioning of economies, and money laundering can threaten both. Criminally obtained money can corrupt financial market officials, and the damage can be long-lasting, because the credibility of markets, though quickly lost, takes a long time to be rebuilt.

Although domestic money laundering can often be fought at the national level, an effective solution to the international money laundering problem is only possible at the international level.

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money laundering отмывание денег embezzlement n растрата

counter v противостоять traffic (in) зд. торговля (чем-л.)

magnitude n размер(ы), масштаб(ы) usury n ростовщичество

implication n подтекст, смысл accrue v увеличиваться, расти, зд. concealed activity тайная деятель- поступать

_ность derivatives npl производные ценные drugs п наркотики бумаги

theft п кража to exert an impact оказывать воз­ действие

XIV. Read the dialogues. Sum up the contents and act them out.