Cannabis in Israel will become an export product after the government’s initiative was approved on Wednesday.
“This is a significant step for exporters and the Israeli industry, which will enable both expansion of export opportunities as well as rising employment … in the field,” Economy Minister Eli Cohen.
At the local level, the discussion was extended at least one year until Cohen gave final approval to the government-supported proposal. Companies seeking export must apply for a licence from the Ministry of Health.
Israel is one of the largest producers of medical cannabis in the world. According to official estimates, around 60,000 Israelis use medical cannabis and consume about 25 tons a year.
This measure will allow you to use expertise on the subject and dive into global markets. Canada could be one of the main trading partners. In 2018, this country became the first G7 country to legalize cannabis at the federal level.
The law will enter in vigor 30 days after it is signed.
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