An inter-ministerial committee of Israel’s Finance and Health Ministries has approved the export of medical cannabis on Sunday.
The official approval of medical cannabis export was expected to take place soon after the Public Security Minister Gilad Erdan accepted an agreement at the time with both the Finance and Health ministries.
In the agreement, Erdan was promised more funding and human resources to keep medical marijuana exports in check. His ministry will be employing 25 police officers full-time to monitor up to 50 marijuana growers to make sure that no cannabis is being funneled to the black market.
“Strengthen Israeli Agriculture”
“The export of medical cannabis is an industry with significant economic potential for the State of Israel and will strengthen Israeli agriculture in general and agriculture in the Arava region in particular,” Finance Minister Moshe Kahlon said.
“It will serve as an opportunity for the country to exploit its relative advantage in developing medical products from medical cannabis.”
The Jerusalem Post reported that Israel is expected to earn from this an estimated $356 million to $1.4 billion Canadian a year.
The newspaper said any entity that meets the requirements may obtain a license to grow, manufacture, store or distribute cannabis.