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Israel Knesset Bill Moves To Allow Medical Marijuana Export

Update Date: Feb 07, 2017 07:00 AM EST

Israel's legislature is now looking to legalize the export of medical marijuana after decriminalization of small-scale personal use in January. The Ministerial Committee for Legislation gave its initial nod on Sunday.

The bill that was initiated by Knesset member Yoav Kisch of the Likud Party, is said to benefit Israel's agricultural sector. The government statement however said that it could take months before the legislation reached parliament. Kisch said "My bill defines for the first time the whole field of medical cannabis and allows regulating its export."

Last year, Canada and Australia approved exporting medical cannabis and have gained large profits. Kisch expects Israel to gain over a billion NIS from its taxation.

According to Reuters, Israel is one of the leading countries in medical marijuana research. It has a market of $15 million to $20 million at most. The United States with its move toward legalization of medical marijuana in more states has an expected market of $50 billion in 10 years. There are currently 28 states in the US that have legalized medical marijuana.

The Jerusalem Post reported a private cannabis research clinic in Israel, iCAN, has about 50 medical cannabis companies active in many aspects of the industry. Saul Kaye, CEO, have developed delivery devices such as inhalers that are used to treat asthma and other chronic illnesses.

Cannabis inhalers are known to be more effective as it allows a patient to get more cannabinoids per puff. This allows patients to medicate without exposing others to significant second hand aerosol. It helps patients harness the medicinal value of cannabis without stigma and with complete discretion.

Scientific organizations in Israel have been working together with cannabis growers to facilitate clinical trials and develop strains to target a number of medical conditions. Health minister Yakov Litzman has supported the use of medical marijuana and has moved to make it more accessible and available easier.

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