Israel Gives Official Go-Ahead For Medical Cannabis Exports
Israel has given its final approval for the export of
medical cannabis on Wednesday, clearing the way for the country to become a
leader in a sector set to bring as much as an estimated $1 billion in revenue
per year.
The Israeli government said in a statement that it signed a
“free export order” to regulate medical cannabis exportation which “represents
another step in the implementation of the government’s decision” to permit
sales of Israel’s medical cannabis products abroad. The approval came a year
after the law received cabinet backing last year.
The order states that anyone who wishes to export certain
medical cannabis products from Israel will need to submit an application to
obtain a license from the Health Ministry, as specified in the Dangerous Drugs
Ordinance. The order will go into effect in 30 days from the day it was signed
on May 13, 2020.
“This is a significant step for exporters and the Israeli
[cannabis] industry, which will enable both expansion of export opportunities
in the industry as well as increasing employment… in the field, especially in
light of the worldwide demand for medical cannabis products from Israel,” said
Economy and Industry Minister Eli Cohen in a statement.
There are already more than 10 medical cannabis farms and
five factories in Israel that meet all the standards and requirements set by
the Health Ministry. Other farms and establishments are under construction and
undergoing licensing procedures, according to the statement.
In December 2018, lawmakers voted in favor of an exports
bill which was part of a set of reforms first okayed in 2016, in second and
third readings in the Knesset. After a number of hurdles, an inter-ministerial
committee made up of officials from the health, finance, public security,
foreign affairs, tourism, and agriculture ministries, recommended in January
2019 that exports be allowed to proceed to “turn medical cannabis into a
medical product.” The revised law provided a budget for police to monitor,
track and control the production and delivery of cannabis for export.
Recreational use of cannabis in Israel is still not legal
but licensed medical cannabis consumption for vetted physical and mental health
issues has been allowed for a decade.
Israel is home to at least eight cannabis growing companies
and dozens of cannabis startups and companies. Israeli medical cannabis growers
and firms continue to seek partnerships and opportunities abroad.
Some 60,000 Israelis use medical cannabis as a treatment,
with an estimated 25 tons of medical cannabis consumed per year for this
purpose.
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