Australian Cannabis Companies Can Now Legally Export Their Products
Australian is the fourth country allowing the exportation of medical cannabis wherever it’s needed. The announcement began on January 4th this year in Australia where many political leaders gather around in conclusion of their final decision. One of these leaders spearheading this direction is health minister Greg Hunt. This final decision is believed to create a dramatic change that Australia needs to become the top exporter within the billion dollar cannabis industry.
In addition, Cannabis is identified as a natural treatment for illnesses inhabiting the human body. This is a reason why Australia legalized cannabis for medical use among the citizens suffering from epilepsy, cancer, HIV, high blood pressure, insomnia, arthritis, chronic pain, and many others. Now they are able to export cannabis medically rather than recreationally throughout legal areas of the world. We’ll gather important factors and accurate facts of how this impacts the entire world other than Australia.
How Australia’s Cannabis Laws Progressed Before Allowing Exportation
Over the past 5 years, Australia's cannabis laws were ebbing and flowing steadily. The pathway toward cannabis legalization started in the year 2015 when the federal government announced they would legalize the growing of cannabis for medicinal and scientific purposes according to a news report from ABC News. However, they didn’t actually legalize it until February of 2016. This decision came when some organizational committees tried to sway the federal government to legalize cannabis medically years before. One of these committees were Mullaway's Medical Cannabis that did little to help pave the way for medical cannabis use.
On February 29th of 2016, a few months after the announcement, the amendment was finally initialized within the Narcotics Drug Amendment Act 2016. According to a summary report by The Office of Drug Control, the amendments made to cannabis licensing didn’t take effect until the 30 October of 2016. This led many researchers to begin studying the plant in several forms while issuing their licenses in October.
In addition, a cannabis company named Cann Group Limited became the first company to apply for a license that was granted months later in March of 2017. Their mission is to become the leading developer and supplier of medicinal cannabis in the Australian market, and to supply overseas markets as those opportunities become available as stated on their online platform. These events led way to today’s expansion of allowing cannabis exportation within Australia.
How Australia Benefits From the Allowance of Cannabis Exportation
The announcement to allow cannabis exportation began on January 4th of 2018 according to a news report by Marijuana Business Daily. However, The Office of Drug Control in Australia describes this change more specifically in terms of policies and regulations under cannabis exportation. Furthermore, it gives you more information about the regulations any licensed cannabis company needs to understand before exporting marijuana products in Australia.
In addition, this recent event was led by health minister Greg Hunt who outlined the major changes Australia will receive. In the following cannabis report by Greg, he states,
“We are making these changes because the expanding domestic medicinal cannabis products industry is facing increasing competition from imports.”
Moreover, the changes will also impact cannabis manufacturers and cannabis patients by economically benefiting both parties. Australian patients will have more options to select an array of cannabis products while manufacturers will have a wider reach of medical marijuana patients.
This new regulation allowing for cannabis exportation is amended under the Narcotic Drugs Act of 1967 as of January. Although it only allows for medical cannabis exportation and not recreational cannabis. Recreational cannabis in Australia is still very illegal which could change in the near future.
Where Will Australia Go Next?
In the very near future, Australia will possibly be the next hubspot for all medical patients worldwide. Since Australia took the very first step in legalizing medical cannabis in 2015 to initializing the allowance of exportation in 2018, the country is looking very promising for cannabis companies. As you are all well aware of, cannabis is a multi-billion dollar industry which will only continue to scale up, especially in Australia. There are huge opportunities for everyone to live a longer and healthier life with the use of high-quality medical cannabis. Cannabis is here to stay, because of how much growth it experienced in the last 5 years.
First come first serve
Australia is acting smart. It'll take a lot of time for other countries to see the benefits of cannabis industry to economy. When they realize this, it'll be hard for their companies to compete in the international market. First come first serve
Interesting information. Great news.