The fame of cannabis in the international market is slowly but surely turning countries that are reserved into fans of the product. Many countries are following in the footsteps of Canada and the US after discovering the huge profits in medical marijuana. Amid the sudden change in perception of medical cannabis, Israel is merely advancing its stance on what they already know about the breakthrough product.
Israel, a conservative country, subjects its residents to criminal lawsuits for growing or selling marijuana. However, the Israeli government believes that possession of the plant is no longer a crime. Residents can grow marijuana at home without risk, but they can be fined for taking cannabis in public for reasons other than medical purposes.
Ehud Barak, Israel's former prime minister, visited Tel Aviv to speak at the fourth annual CannaTech conference on the same day the country declared marijuana legal for adult use. Barak, a devotee of the plant, mentioned the benefits of medical marijuana. Barak is currently the chairman of Canndoc / Intercure, a medical cannabis company.
In the past, Barak was not in favor of marijuana for medical and recreational purposes. However, he is on the list of politicians who have become a supporter. The list includes US House Speaker John Boehner and former Mexican President Vicente Fox. All three career politicians are trying to turn people's perception of marijuana from a taboo recreational recreational plant to a medical breakthrough.
Barak expressed his support for cannabis and its medical benefits at the conference, even as he says Israel should adapt its slogan to "the land of milk, honey and cannabis." Barak said more than 35 countries are already legalizing marijuana for recreational or medical use. He also revealed that more than half of the US is benefiting from marijuana legalization. Barak believes cannabis will drive the country to become successful in the industry if the government develops a more important, faster and more aggressive way to enter the markets.
The Knesset, commonly referred to as the Israeli Parliament, amended the Dangerous Drugs Ordinance last year. The 16th amendment focuses on the regulatory aspects and management of medical cannabis exports from the country. Due to the change in Israeli law, analysts predict Israel will become one of the most profitable hubs in the cannabis market.
Israeli company Tikun Olam is an aggressive player in the cannabis sector due to its total market share of 40 percent, putting the Israeli marijuana industry among the best in the world on the market. Tikun Olam's Chief Marketing Officer Stephen Gardner states that Israel is at the forefront of the cannabis sector due to the early works of Dr. Mecholaum and the identification of the endocannabinoid system. Gardner also believes that the country has provided other countries with the basis for advanced research because of his studies of the “taboo” plant over the past decade.
Israel's Ministry of Health said more than 500 farms are asking for permission to grow medical cannabis following the approval of regulations for Israeli patients. People suffering from terminal illnesses such as cancer, epilepsy and Parkinson's disease can purchase medical marijuana in the country.
Read the full article on TheHarvestInvestor (EN, source)
