The present article analyses relations between meaning and context as an interactive process that promotes cognition and communication, both intralingual and interlingual. The paper provides a survey of literature on different types of linguistic and extralinguistic context with a special focus on the role of context in translation of special texts. The implications different types of context have in the process of decoding and re-encoding the message in the process of translation are illustrated considering student translations in the field of telecommunications and economics. Context is treated as the environment of text production, it is a set of conditions in which words are used, including such extralinguistic factors as social and cultural setting. Context is a determinative factor for revealing various senses of a word, phrase or sentence, and translator should be aware of the role of various contexts in the process of decoding the source text and producing new texts in the process of translation, often creating new contexts. Technical translation is considered to be a promising tool for theoretical investigation because studying the processes of meaning creation and meaning transfer between the languages can promote understanding of the complicated processes occurring within the contemporary language for specific purposes.