Israel Ready To Export Cannabis To Spur Economy

Photo illustration (Terre Di Cannabis / Pixabay)

JAKARTA - The economic value of marijuana encourages more and more countries to use it. Israel, for example. Israel has previously used medical marijuana independently. Now, they decide to export. The decision was taken Wednesday, May 13.

Discussions towards exports have been going on since a year ago. The potential for profits that is multiplied is one of the main reasons authorities agree to send medical marijuana products overseas.

According to Reuters, it is possible that Israel's revenue to be extracted from cannabis exports could touch the hundreds of millions of dollars. Therefore, Israeli Economy Minister Eli Cohen gave his approval.

In practice, exporters are required to apply for a medical marijuana export permit from the Ministry of Health within the next 30 days. "This is an important step for Israeli exporters and industry which will enable the expansion of export opportunities as well as increase in employment in Israel," said Cohen.

Israel currently has more than ten cannabis farms with five factories that meet health standards. The rest will be built when companies have agreed and secured licenses to export cannabis. Europe is their main target market.

I don't think it's a big deal. Moreover, Israel already has many experts who are supported by medical and agricultural technology. Then, the dream of becoming one of the largest medical marijuana producers in the world is not just a daytime dream for Israel.

"There is a lot of investment that we expect to happen now, as investors await this approval," said pioneer of cannabis regulation in Israel, Hagit Weinstock.

So far Israel has permitted the use of medical marijuana. According to data from the Ministry of Economy, it is recorded that 60 thousand people have consumed medical marijuana in Israel with a total of 25 tons of cannabis each year. Even so, recreational use of marijuana remains illegal in Israel.