Overnight, Argentina discovered cannabis exports and turned all its power on developing an industry that is still being repressed. The man chosen by President Alberto Fernandez to promote cannabis exports in Argentina is his Minister of Productive Development, Matias Kulfas. He was the one who brought together other national cabinet departments interested in the herb and put together a plan to promote the development of the industry.
This initiative, presented in society just two weeks ago, has already entered Congress where it will be given an express treatment to achieve what everyone wants, the exportation of cannabis. In an interview with the official agency Télam, Kulfas was decisive: “Cannabis can have a great export development.”
The Minister of Productive Development defended the bill to regulate the chain of production, industrialization, and commercialization of the cannabis plant. Also, cannabis seeds and derived products for industrial and medicinal use, during a plenary session of commissions in the Senate.
Kulfas anticipated that the law will allow Argentina “to enter an international market with a quality and traceable product.” The objective is clear: “to sell at the best possible price for the quality it presents.”
Argentina is determined to export cannabis and does not want to waste any more time. That is why a plenary of Senate commissions began to debate the bill to regulate the chain of production, industrialization, and commercialization of the cannabis plant, its seeds, and derived products for industrial and medicinal use.
Read more about cannabis exports in Argentina and find the latest cannabis news in the world with the Hemp.im mobile app,
The intention is to sign an opinion next Monday and take it to the plenary sessions in mid-July
On the first day, the legislators that make up the Agriculture, Livestock, and Fishing, Budget and Finance, and Internal Security and Drug Trafficking Committees heard the Minister of Productive Development, Matías Kulfas.
The Government’s strong man on the subject said that the export of cannabis could mean an annual income of 50 million dollars and the creation of 10,000 jobs.
How Argentina seeks to enter the cannabis export market
The project establishes a regulatory framework for the production chain, including scientific research with a view to satisfy the local market and generate cannabis exports.
The regulatory framework sent by the Executive Power to Congress not only wants to export cannabis but also seeks to “disrupt the informal market of oils and other irregular herbal preparations that currently exists”.
It also promises that it will “put an end to the proliferation of products that lack any kind of control regarding their composition and quality.”
“We would like this law to be able to position us as a country brand. Because this industry can have great export development and a lot of international presence,” said Kulfas, the main promoter to achieve the export of cannabis in Argentina.
The first objective of the project consists of “establishing a legal framework that authorizes the stages of sowing, cultivation, harvesting, production, storage, transport and commercialization”.
Also “import, export and possession of cannabis seeds, the cannabis plant, and its derivatives, for medicinal, therapeutic, palliative or scientific research purposes”.
They hope to achieve this through a strong regulatory scheme
The second objective, as detailed in the initiative, “consists of legalizing the different products and commercialization links of hemp or industrial hemp and its by-products”.
In addition, it is clarified that “although hemp is not a narcotic drug under the terms of criminal law because it does not generate psychoactive effects, it is necessary to regulate and control the activity to prevent illegal crops of psychoactive cannabis from being hidden in hemp fields”.
Cannabis export in Argentina, a source of employment
The medical cannabis and industrial hemp market is growing exponentially and will be a source of quality employment, as promised by the Government of Argentina. When analyzing applications for licenses to produce medical or industrial marijuana, requirements and background information will be established and requested from the applicant before exporting cannabis. That is to “maximize controls aimed at preventing illegal activities, including money laundering.”
In granting licenses, ARICCAME will consider “the purpose of contributing to the development of regional economies and promoting the activity of cooperatives and small and medium agricultural producers.”
The bill also contemplates sanctions for non-compliance with the regulations: from a warning to disqualification to operate within the terms established, including fines, suspension, and the expiration of the authorization.
He also anticipated that the law will allow Argentina “to enter an international market with a quality and traceable product” so that “we can sell at the best possible price for the quality it presents.”
“This is an industry that can be developed in a decentralized way because there is room for everyone: for SMEs, small producers, and large companies,” added Kulfas.
The official listed that the law, once it is sanctioned, will allow the “creation of quality jobs, the generation of foreign currency from exports and development opportunities for the whole country.”
“Conservative estimates indicate that between now and 2025, 10,000 new jobs will be created,” he said.
In addition, he predicted that, per year, industrialization will generate “$500 million in sales to the domestic market and $50 million in cannabis exports.”
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in LA MARIHUANA, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Mozambique/Debt: Credit Suisse Pleads Guilty and Pays $475 million
Credit Suisse bank has pleaded guilty to conspiracy to commit fraudulent financial transfer by paying $475 million in a settlement...
Virtual and Augmented Reality Are Shaking Up the Education Experience
While virtual and augmented reality are making a big impact in all manner of fields, education is one sector that...
MicroStrategy Stock Could Fall 12% after Bitcoin ETF Launch
MicroStrategy's revenue has dropped from more than $513 million in 2017 to more than $480 million in 2020. Profits have...
Atrys Health Increases Sales Fivefold in the First Half of 2021
Atrys Health presents its financial results for the first six months of 2021 while announcing that it has reached an...
Medical Cannabis To Be Sold Freely in Drugstores across Colombia
The Colombian Association of Cannabis Industries, Asocolcanna, indicated that the potential of this market is great since the country went...
Cannabis2 weeks ago
Malta Might Soon Legalize Private Cannabis Consumption
Featured2 weeks ago
Why an Energy Crunch is Most Likely Coming
Featured2 weeks ago
Small Businesses in Colombia Benefit From the Development of the Fintech Sector
Cannabis2 weeks ago
ArgenCann Will Be Part of Expo Cannabis 2021