The W3C has launched an initiative on the representation of content in various languages. The task of the MultilingualWeb-LT Working Group is the development of means for the automated and manual processing of documents and its multingual presentation. The technological basis will be special meta data in HTML5.
The main idea of the initiative is the recognition of the economical importance and costs of translations in the international electronic commerce. Interesting in this context by the way is that beside the economical importance the internet helps to save languages.