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Colombia Now a Major Player in Industrial Cannabis Production

The new decree signed in Colombia is aimed at safe and informed access to medical and scientific use of cannabis. It requires an anti-corruption commitment from those who request them, creates a manufacturing license for non-psychoactive derivatives of the plant to improve tracking and traceability, and establishes measures to protect and strengthen small and medium-sized producers, as well as growers.

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On Friday, the President of the Republic, Iván Duque Márquez, accompanied by the Ministers of Justice and Law, Health and Social Protection, and Agriculture and Rural Development, signed the Decree on Safe and Informed Access to the Use of Cannabis.

The regulation authorizes the export of cannabis dried flowers for medicinal purposes, provides greater incentives to the pharmaceutical industry in the country and guarantees access to derived medicines.

This marked the beginning of a cannabis regulatory revolution in Colombia, making the country a major player in the industrial production of this product.

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The new decree is aimed at safe and informed access to medical and scientific use of cannabis

The development for the industrial, food, and medicinal production of cannabis, as well as the export of dried flower of the product, is covered by the policy of legality, emphasizing its medicinal use with the international reference of safe medicines and the opening of new markets.

Wilson Ruiz Orejuela, Minister of Justice and Law, recalled that since 2019 the National Government has been working in technical tables with guilds, companies, academia, small producers and other stakeholders in the construction of the new provision that modifies Decree 613 of 2017, on safe and informed access to the medical and scientific use of cannabis.

The new decree is aimed at safe and informed access to medical and scientific use of cannabis, strengthens licensing requirements, requires an anti-corruption commitment from those who request them, creates a manufacturing license for non-psychoactive derivatives of the plant to improve tracking and traceability, and establishes measures to protect and strengthen small and medium-sized producers, as well as growers.

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The regulation, in force with the act of presidential signature, allows value-added exports, accessing the entry of the flower to free trade zones to be cut and dried and to carry out processing, packaging and repackaging activities.

The Minister of Justice highlighted that in terms of competitiveness, the new decree strengthens scientific research, allowing, through extraordinary authorizations to higher education institutions, to carry out research on the cannabis plant and its derivatives.

Ruiz Orejuela stated that the requirements for the granting of licenses will be strengthened, more severe measures will be established to cancel them and the obligations and prohibitions for licensees will be toughened.

“An anti-corruption commitment will be required from license applicants, as well as a certificate of shareholder composition of those who hold 20% or more of the shares. This in order for such licenses to be granted under the principle of transparency,” he said.

Finally, another aspect to highlight of the new decree has to do with the extension of the term of the licenses from 5 to 10 years, recognizing the dynamics of the industry and the process of elaborating value-added products, and the elimination of the prohibition to advertise cannabis plants, their derivatives and finished products, complying with legal requirements.

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(Featured image by PublicDomainPictures via Pixabay)

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First published in DIARIOJURIDICO.com, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Arturo Garcia started out as a political writer for a local newspaper in Peru, before covering big-league sports for national broadsheets. Eventually he began writing about innovative tech and business trends, which let him travel all over North and South America. Currently he is exploring the world of Bitcoin and cannabis, two hot commodities which he believes are poised to change history.