Israel Legalizes Medical Cannabis Exports by Mich
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Posted On: 02/19/2019 7:31:22 AM
Israel Legalizes Medical Cannabis Exports
by Michael Vodicka
February 14, 2019
Israel just took a major step toward becoming a global leader in the high-growth medical cannabis market.
Israel just became the fifth country in the world to legalize medical cannabis exports after its cabinet voted to approve a sweeping new cannabis law.
Here are some more details from Reuters.
The bill, backed last month by parliament, allows companies approved by the health regulator and police to export medical cannabis to countries that permit its use. Israeli media said exports could start in as little as nine months.
“I am glad this is finally happening. It opens a very big market in Israel. The technology is here in Israel and until now we simply had to give the technology to other countries. Therefore, I am glad we can reap the profits here in Israel,” said Justice Minister Ayelet Shaked.
Some lawmakers had tried to block the legislation, fearing more cultivation could push more drugs onto the streets at home.
Israeli companies – benefiting from a favorable climate and expertise in medical and agricultural technologies – are among the world’s biggest producers of medical cannabis.
Israeli Cabinet Approves Law To Allow Medical Cannabis Exports
This legislative move places Israel into a very small group of countries in the world, and the export news comes at the perfect time. The global cannabis market is expected to explode in the next few years.
According to Arcview Market Research, one of the most respected cannabis market research firms in the industry, global annual cannabis sales will reach $32 billion in 2022 and $57 billion by 2027.
Israel is in a great position to capitalize on the booming industry. Israel was one of the first countries to approve medical cannabis and it has one of the best pharma and medical research industries in the world.
Israel expects to begin exporting cannabis by the middle of 2019 with Germany, Austria, and Mexico as potential trade partners.
Analysts predict that Israeli’s annual cannabis exports could range between $1 billion and $4 billion as the market expands and matures in the next decade.
https://www.ino.com/blog/2019/02/israel-legal...Gv2UO7QjIX
https://www.reuters.com/article/us-israel-can...SKCN1PL0G3
by Michael Vodicka
February 14, 2019
Israel just took a major step toward becoming a global leader in the high-growth medical cannabis market.
Israel just became the fifth country in the world to legalize medical cannabis exports after its cabinet voted to approve a sweeping new cannabis law.
Here are some more details from Reuters.
The bill, backed last month by parliament, allows companies approved by the health regulator and police to export medical cannabis to countries that permit its use. Israeli media said exports could start in as little as nine months.
“I am glad this is finally happening. It opens a very big market in Israel. The technology is here in Israel and until now we simply had to give the technology to other countries. Therefore, I am glad we can reap the profits here in Israel,” said Justice Minister Ayelet Shaked.
Some lawmakers had tried to block the legislation, fearing more cultivation could push more drugs onto the streets at home.
Israeli companies – benefiting from a favorable climate and expertise in medical and agricultural technologies – are among the world’s biggest producers of medical cannabis.
Israeli Cabinet Approves Law To Allow Medical Cannabis Exports
This legislative move places Israel into a very small group of countries in the world, and the export news comes at the perfect time. The global cannabis market is expected to explode in the next few years.
According to Arcview Market Research, one of the most respected cannabis market research firms in the industry, global annual cannabis sales will reach $32 billion in 2022 and $57 billion by 2027.
Israel is in a great position to capitalize on the booming industry. Israel was one of the first countries to approve medical cannabis and it has one of the best pharma and medical research industries in the world.
Israel expects to begin exporting cannabis by the middle of 2019 with Germany, Austria, and Mexico as potential trade partners.
Analysts predict that Israeli’s annual cannabis exports could range between $1 billion and $4 billion as the market expands and matures in the next decade.
https://www.ino.com/blog/2019/02/israel-legal...Gv2UO7QjIX
https://www.reuters.com/article/us-israel-can...SKCN1PL0G3
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