Legislation was introduced in Israel to allow the export of medical marijuana to countries where it is legal. The local market in Israel only consists of about 23,000 patients and nine suppliers. This makes their market value in the $15 to $20 million range.
Both Canada and Australia export medical marijuana, according to Law Street Media. It may take months to get the bill through Israel’s governmental process. Supporters of the bill agree that exporting medical marijuana would be a good boost for the industry’s profits. Exporting could bring the country $267 million in revenue.
Lawmaker for Israel’s Likud party, Yoav Kisch, said, “Exporting medical cannabis is pushing forward the economy and developing the agricultural sector. My bill defines for the first time the whole field of medical cannabis and allows regulating its export.”
In 2016, Israel’s marijuana market brought in $100 million in investments. Thousands of citizens gathered to urge the Knesset (Isreali lawmakers) to legalize recreational marijuana. Members of both sides of the argument were in attendance.
MK Tamar Zandberg said, “This is a health campaign, a campaign for quality of life.”
Israel’s Public Security Minister Gilad Erdan plans to adopt Porgutal’s model when it comes to medical marijuana. Israel is working on implementing decriminalizationand is working toward allowing exportation.