The Israeli government on Sunday gave its final green light to the export of cannabis for medical use, a measure that should generate significant revenue for the state, said the Ministry of Health.
The government enforced a law passed in December by Parliament approving the foreign sale of medical cannabis.
“The State of Israel is one of the world’s leading countries in the field of medical cannabis (…) Our knowledge and expertise in this field allow us to provide high quality products for export” added the Director of the Ministry of Health, Moshe Bar Siman Tov.
The law allows farmers to cultivate cannabis for therapeutic use, provided they obtain a permit from the Ministry of Health, the police and the producer control authority.
The export of cannabis for medical purposes could generate an income of one billion shekels (234 million euros) per year for Israel, according to parliamentary estimates.
Eight companies are currently cultivating cannabis for therapeutic use in Israel, but many more are waiting for authorisation from the authorities. A number of other companies have set themselves at the forefront of the industry through technological research in the field.
Recreational cannabis use is banned in Israel, but a law partially decriminalising consumption in favour of a fine system was approved in 2017.
On the other hand, the use for therapeutic purpose is legal and has been encouraged for more than ten years.