Israel is known as a pioneer in medical cannabis. From innovated research on cannabinoids in the 1960s from Professor Raphael Mecholulam to government’s approval of medicinal use in the 1990s, Israel has been at the forefront for decades.
It looks like Israel is prepared to continue their history of moving the needle forward on medical marijuana stocks. Important figures in charge of Israel’s finance and health laws have come out and endorsed the idea of exporting medical cannabis.
“We are leading a topic that is innovative in the world, and therefore it must be done with great care and responsibility while turning the issue into the highest professional and medical standards,” stated Moshe Bar-Siman-Tov, Director-General of the Ministry of Health.
Minister of Finance Moshe Kahlon also made a similar statement.
“Medical cannabis is an industry with significant economic potential for the State of Israel. It will strengthen Israeli agriculture, and particularly in the Arava region,” Kahlon reported to Israeli media.
There will be tighter regulations in place if exports begin. For example, the Ministry of Health will make exports directly or under tight supervision. Exports will only be sent to countries that have legalized the medical use of marijuana. Growers will only be permitted to export if they have received the proper licensing from the Ministry of Health.
Obviously, everyone in the Israeli government is not supportive of the potential exports.
“Promoting medical marijuana exports are irresponsible, unprofessional and unwise. The economic benefit does not justify the severe damages that could be caused by Israel becoming the flagship of cannabis export,” stated Israel’s Internal Security Minister Gilad Erdan.
Israel has the ability to set the stage for international cannabis trade. Though there will be a lot of people opposing international exports, Israel has not fallen to the pressure in the past when taking controversial stances on medical marijuana.