The Israeli medical marijuana industry is all set for a giant leap forward and grow manifold. Israel has a worldwide reputation for being at the forefront of medical marijuana research. Over the past few days, the government has ratified bills that will boost development in technology related to marijuana and also seek markets for exporting cannabis.
Cannabis exports could yield nearly $270 million each year in tax revenues. The idea behind this push is to develop the agriculture sector and develop the country’s economy. Israel seeks to emulate Australia, Canada, and other countries that are making money by exporting cannabis.
Israel is serious about maintain its position as one of the leaders in marijuana research. The agriculture ministry has plans to spend millions of dollars in carefully selected medical cannabis research projects, totaling thirteen in number. The country is also mulling decriminalization. This move comes in the wake of increasing legalization of cannabis all over the world.
Israel is also mulling a revamp of existing drug laws so that as legitimacy of use increases it should not lead to health problems. A new policy pending cabinet approval would have a $265 fine for a first time offence of consuming marijuana; the offence would not be entered as a criminal record. A second such offence invites double the fine; a third offence would close the case subject to police rules, and if caught for a fourth time, the subject could face criminal prosecution. The policy would apply to pot consumption in public. Minors caught consuming cannabis could face criminal investigation if they refused treatment.
Israel’s expertise in cannabis cultivation is at least two years ahead of the rest of the world. And, that’s a big advantage for the country as it decides to use its advanced knowledge to enter the global market. Medicinal cannabis in Israel is available in fixed, repeatable doses. Israeli expertise in delivery devices, medicines derived from cannabis for AIDS, bone marrow transplants, and psychiatric conditions, is one of its kind. An export market would give the Israeli cannabis industry the impetus for growth and development.
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