In a decision that thrilled the country’s cannabis industry, Israel’s cabinet gave a final OK on January 27 to regulations permitting the export of medical marijuana. The law was unanimously passed in the country’s parliamentary body the Knesset in December.
News of the legalization of exportation is a long time coming in the eyes of many Israeli cannabis professionals. A government committee approved a plan to move towards legal exportation in 2017, but the process dragged over concerns about exported cannabis getting into the hands of entities in areas where marijuana is not yet legal.
The decision makes Israel the third participant in the global legal cannabis market. The governments of the Netherlands and Canada also allow for exportation. The global cannabis market, according to a report by Energias Market Research, was projected in 2017 at $8.3 billion, and stands to rise to $28 billion by 2024.
On Monday, Ehud Barak, chairman of Israeli company InterCure, announced plans to launch operations in 10 countries over the next two years.
“I have supported the export of medical cannabis from Israel all along, and I welcome the government’s approval today,” Israel’s finance minister Moshe Kahlon commented to the Jerusalem Post. “The export