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Israel to allow medical marijuana exports

Israel will become the third country, after the Netherlands and Canada, to take its medical cannabis global.

Published: 26th December 2018 11:08 PM  |   Last Updated: 26th December 2018 11:08 PM   |  A+A-

marijuana, weed, cannabis, ganja

Image of ganja used for representational purpose. (File Photo)

By PTI

JERUSALEM: Israel's parliament has unanimously approved a law to permit exports of medical marijuana, allowing Israel to tap the lucrative global market.

Israel will become the third country, after the Netherlands and Canada, to take its medical cannabis global.

The Israeli medical cannabis company iCAN predicts the global industry will reach USD 33 billion in the next five years, as stigma fades and demand grows for the few countries certified to export.

READ| Last Warsaw Ghetto uprising fighter dies in Israel

The law was approved late Tuesday, sending cannabis company shares rising by about 10 per cent. The law was stalled for years over fears from security officials that medical marijuana would leak into the black market.

To assuage concerns, the law empowers police to supervise licensing. The Israeli Cabinet must give final approval, a step seen as a formality.


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