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Growing Kenya economy hinges on renewal of US trade pact

Published on March 10, 2015

Kenya has emerged third among the top 20 fastest-growing economies in the world, according to a 2015 survey by Bloomberg. Kenya and Nigeria are the only African countries that made it on the list, which placed China first, followed by the Philippines.  However unemployment in Kenya remains high and some industries face a shock unless the U.S. renews a key trade agreement.

Pankaj Bedi, the founder and chairman of United Aryan Limited, said his company would face serious consequences if AGOA is not renewed.

“It will be disaster. We all have been lobbying, pushing doing whatever we can.  In fact government is very proactive, even the Kenyan government has been, you know, following through. If it is not there then we are not there. Simple. We’ll lose all the jobs; there will be social, security all kind of disaster happening,” said Bedi. Read more. Source | Voice of America.