The Israeli parliament gave Wednesday, December 26 the green light to the export of cannabis for therapeutic use. This measure should allow the State to collect more than 234 million euros per year.
On Thursday, December 26, the Israeli parliament voted in favor of a law allowing farmers to export cannabis for medical use that they grow on their land.
While in France, a committee of experts mandated by the National Medicines Safety Agency (ANSM) has just recognized that certain therapeutic situations justify the use of medical cannabis, Israel has spoken on the subject. almost 20 years ago. Doctors have in fact been authorized to prescribe marijuana since 1999 to treat, among other things, cancer, fibromyalgia, multiple sclerosis, HIV/AIDS and post-traumatic disorders. The consumption of cannabis for recreational use is prohibited in the country, although a project partially decriminalizing its consumption in favor of a system of fines was approved in 2017.
One billion shekels annual revenue
The new text passed by parliament now allows farmers to cultivate cannabis for therapeutic use, provided they obtain a permit from the Ministry of Health, the police and the producer control authority. “Israel, already the most advanced country in this field, will now be able to produce and market cannabis and cannabis-based products that will help millions of suffering people,” Saul Kaye said in a statement. CEO of iCAN, an Israel-based company that promotes technologies to grow this medical cannabis.
Parliament’s decision to authorize the export of therapeutic cannabis is not fortuitous since it will allow Israel to bring in up to one billion shekels (234 million euros) per year.
“Israel is perfectly positioned to enter and disrupt the medical cannabis market which is expected to reach $33 billion in the next five years,” said Saul Kaye, quoted by Times of Israel. “In Israel alone, we are rapidly expecting over $1 billion in sales to countries interested in our products.”
“A blessed product that alleviates the suffering of the sick”
The law’s main author, MK Yoav Kisch, a member of Prime Minister Benjamin Netanyahu’s Likud party, stressed the “enormous economic nature” of medical cannabis for the state and farmers. According to him, cannabis for medical use is a “blessed product that alleviates the suffering of the sick”.
Eight companies are currently cultivating cannabis for medical use in Israel, but many more are awaiting approval from authorities, the parliament said. The Israeli government had already approved in 2016 this bill in favor of the legalization of exports. These should occur within six months at best. According to ForbesAustralia, Germany, Austria and Mexico are among the countries eager to trade with Israel, which becomes with the Netherlands and Canada the third country allowing the export of cannabis for medical purposes.
.
