If you are using a cms there are components you can install for language translation such as JtransPro for Joomla which creates folders for each language and a duplicate for every page on your site – however, these components use google or yahoo for translations which does not convey your pages professionally (in my opinion). But – you could use something like this and then have someone polish them up for you.
As far as the search engines go, they do index these pages. I use Joomla myself and already have some pages indexed in other languages. I also know that some of the affiliate managers will help with translations. I guess you would have to ask them to find out which ones do. I know that StarPartner does.