Israel made a major move last week to become a competitive player in the global cannabis industry after their Parliament passed an amendment that would allow the nation to export medical cannabis. The bill specifically calls for police to be able to supervise cannabis farms and to approve cultivation, growing and exporting of products. But a direct government authorization will be required in the future to allow for cannabis exporting. The license required to grow and sell medical marijuana will also be subject to a license from the Ministry of Health as well as followed up with a positive or negative review from law enforcement. Cannabis related stocks shot up in Israel after the bill was passed opening the first doors to a prosperous future in cannabis.
While the amended bill allows provisions for future cannabis export, pending government authorization, recreational marijuana use is still illegal in Israel. A government resolution is required to authorize export. Minister Erdan hopes to get approval by Sunday or shortly thereafter.