Today, Israel announced its approval for exports of medical cannabis, meaning that sales outside of the country can now commence. The nation expects to earn millions in revenue from this move.
“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,” said Economy Minister Eli Cohen.
In order to make this a reality, Cohen had to give final approval for these exports, and it happened more than a year after the new law that would allow them was approved by the cabinet. He wanted to ensure plenty of time to roll things out currently. The new order will go into effect in 30 days, which should give exporters time to apply for a license through the Health Ministry.
So far, there are more than ten farms and five factories in the country that meet standards for export, and some of them have already worked out agreements to sell cannabis in places like Europe or Canada. There is already a framework in place to get this going.