Israeli lawmakers approve medical cannabis exports law

There are eight cultivating companies in Israel - many of which have resorted to opening farms abroad to get into the international market
Reuters (UK)
Wednesday, December 26, 2018

israel cannabisIsrael's parliament has given its final approval to a long-awaited and controversial law to allow exports of medical cannabis, a move that is likely to boost state coffers. Lawmakers voted 21-0 in favour of the bill, which still needs approval from cabinet ministers and Prime Minister Benjamin Netanyahu. Israeli companies - benefiting from a favourable climate and expertise in medical and agricultural technologies - are among the world's biggest producers of medical cannabis. The finance and health ministries estimate exports could raise tax income by 1 billion shekels (208.9 million pounds) a year. The bill to allow exports imposes tough regulations on exporters and threatens jail terms and hefty fines for violations.