Little by little, Colombia has been advancing with certain steps towards the construction of one of the new industries in the world, which has been leaving millions of dollars in profits. We are talking about medical cannabis, this pharmaceutical industry is already taking the first steps and is seen as an international reference.
On Wednesday, June 1st, the forum ‘Cannabis for medical, scientific and industrial purposes’ was held in Bogota. There, the Minister of Justice and Law, Wilson Ruiz Orejuela, stressed that the current regulatory framework of the National Government on the subject is strengthening Colombia’s pharmaceutical industry with the aim of making it an international benchmark.
“But above all, this regulatory framework will guarantee the availability and access to safe and effective cannabis-based medicines for patients,” said the senior official, who was in charge of moderating the panel “Regulatory Developments in Colombia.”
Minister Ruiz Orejuela began by reviewing the main regulatory changes in the sector and their impact on the consolidation and growth of the entire cannabis industry for medical, scientific, and industrial purposes.
The first step was taken with the regulation of Law 1787 of 2016 in August 2017, which was updated taking into account the technical experience gathered and the fluidity demanded by the sector. He also indicated that this resulted in the issuance of Decree 811 in July 2011. “This decree provided clarity in the rules that regulated the activities authorized by the licenses, especially in terms of the use of parts of the plant for industrial purposes, which is an important source of economic growth and employment generation,” he noted.
Ruiz Orejuela then referred to Resolution 227 of 2022, which included specific rules to make the manufacture of food, dietary supplements, and alcoholic beverages viable. And he expounded on the quota system and how it makes everything clearer and more agile to guarantee continuous production, promote the fluidity of the sector and focus the work of the different entities on subsequent control that ensures the traceability of licensed activities.
The Hemp.im application organizes what’s happening in the cannabis world to help you learn more about the stories that matter to you. Stay informed with the latest hemp news and get the important information in one application.
Undoubtedly, Colombia continues to make progress in this area
In fact, in the coming weeks, in July to be precise, Cartagena de Indias will be the meeting point for some of the most prominent exponents of the Cannabis industry in Latin America and the world, who will arrive in the country to be part of the third edition of ExpoCannaBiz Business Conference, the business fair that has been consolidating itself as the most relevant in this sector in Colombia and Latin America.
The event, which will bring together nearly 1,500 attendees from more than 40 countries, has 50 exhibitors and about 40 national and international speakers who will be talking about regulation, crops, food, health, pharmaceuticals, cosmetics, and textiles, will be just some of the topics and economic sectors that will have a key space in ExpoCannabiz Business Conference 2022.
In the first two editions, entrepreneurs, industry agents and other economic sectors found multiple business opportunities in the national and international market of the so-called ‘green gold’.
That is why it has the support of Mita (Cannabis Industry Association of Arizona, USA) which has managed to strengthen and aggregate the sector in that country. Likewise, with the C3, the Colombian Chamber of Medicinal and Industrial Cannabis, a recognized organization that seeks to consolidate the sector in the country, as well as to develop the entire production chain and turn it into an agro-industry, similar to what happens with coffee production and take advantage of the potential it has.
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 Semana, 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.
Total Value of Investments on DeFi Platforms Falls Drastically
At the height of the popularity of Bitcoin and other coins, over $250 billion was invested in cryptocurrencies on DeFi...
Loopdx Opens €1 Million Round to Bring its Sepsis Biomarker to Market
n Spain, 17,000 people die every year from different types of septicemia. This condition is one of the most serious...
Why New York Raw Sugar and London White Sugar Trends Are Down
New York was lower again last week on ideas of bigger supplies. London also closed lower as White Sugar supplies and...
A Look at all the Recessions Since 1970: Three Hard Landings Stand Out
This past week saw a spectacular "rebound" "relief" rally. Could it turn into a summer rally? Just as the Fed...
Mr Bear Ain’t Going Nowhere
Since May 26th Mr Bear has been a very bad bear. We’ve seen three NYSE days of extreme market breadth...
Biotech6 days ago
Satellos Bioscience’s Stem Cell Signaling Research Could Turn the Tables on Muscular Dystrophies
Cannabis2 weeks ago
Luxembourg Approves the Self-Cultivation of 4 Cannabis Plants per Household
Crypto2 weeks ago
Solana Price Forecast: SOL Forms a Dead Cat Bounce
Crowdfunding2 weeks ago
Exporo Raises Funds, but the Company Value Decreases Instead of Increasing