Israeli Economy Minister Eli Cohen signed a decision allowing medical cannabis to be exported to other countries. Companies wishing to export would be able to apply to Israel's Health Ministry and begin shipments after obtaining the necessary license.
Cohen described the decision as an important step for Israeli industry, opening up export opportunities while creating more jobs in the sector.
The new measure was due to take effect within 30 days, giving exporters time to submit license applications through the Health Ministry.
More than ten farms and five factories were reported to meet export standards. Some had already reached medical cannabis export agreements with European countries and Canada.
Cannabis in Israel
At the time of the article, medical cannabis use was permitted in Israel. Recreational use remained prohibited by law, although the article reported that the prohibition was generally not enforced. Around 60,000 Israeli citizens were using cannabis medically, and total consumption in the country was estimated at 25 tonnes.
A market projected to reach $30 billion
Industry specialists cited in the report expected the medical cannabis market to reach $30 billion within five years. Israel was aiming to generate more than $1 billion in medical cannabis export revenue in a short period.
