2018 has been a very progressive year for cannabis legalization. In addition, there has been an abundance of positive news surrounding this culture, community, and Industry. Today we bring you news from Israel. On Tuesday, December 25th, the Israeli Parliament, formally known as the Knesset passed legislation that will allow for exports of cannabis.
A 2018 Recap
This year we saw several states in the U.S. say yes to cannabis during the midterm elections. The world watched as Canada welcomed a legal retail cannabis market in October. In addition, the 2018 Farm Bill passed legalizing Industrial Hemp for the first time in the United States since World War II. Just this week, Thailand officials passed legislation that will allow for medical cannabis in the country as a “New Year’s present” to residents.
The Details on Israel Cannabis Exports
Now, we are reporting incredible news coming out of Israel, a country that has been a leader in cannabis research for decades. Here is what we know about the recent changes approved by the Israeli Parliament. Specifically regarding exporting cannabis products out of the nation.
Upon receiving the approval from the Israeli Cabinet, the law will go into effect. Once this occurs, it will allow for legal medical cannabis producers to export cannabis out of the country. This is something that didn’t come quick enough for some. There have been multiple cannabis companies who have moved their operations to Europe where exports were legal.
Lilac Mandeles, the CEO of TechForCann stated the following in an interview with MJBizDaily, “Once the export bill is approved, I assume that global investors will look again to Israel, understanding that the value proposition of the Israeli cannabis market can deliver global opportunities on the medical cannabis industry.”
Some predictions see this change opening the doors for a $4 Billion market in addition to global collaborative research ventures! Stay tuned here at Excessively for all of your blazing news!