Argentina and its plan to legalize medical cannabis
It is after a long wait that the Argentinian project is finally born. Following this, the promotion of research, production and sales will be implemented. Thus, the country’s Economic and Social Council strongly encourages the deepening of market entry and production, trying to include SMEs and cooperatives concerned.
In this new law, Argentina’s Minister of Productive Development, Matias Kulfas, sees a real opportunity to seize with a view to economic progress: «The market for medical cannabis and industrial hemp is growing exponentially worldwide and is a new source of quality jobs and productive development,” he says.It also represents a “great opportunity for Argentina to be a regional leader, thanks to its agricultural and industrial capacities and productive scientific network.” He added that “the project creates the conditions for the chain’s development at the local level, drawing on the best international lessons.” Finally, “The development of the chain will have multiple positive impacts on the country: more jobs, more exports, more innovation, federal development and access to health.”
Following Canada’s example, Argentina wants to create new quality jobs where 2 out of 10 jobs (in the sector) are dedicated exclusively to research, processes and quality control. To justify this, the minister points out that: If we look at the whole chain, from the seed, we can see that there are more than 200 goods and services related to this chain. That’s why betting on the development of this sector involves a lot of related activities.”
The primary objective of hemp cultivation is therefore to «allow the development of this industry, which is a specific variety with a low concentration of THC», amounting in this case to 1%, and thus strongly limiting the psychotropic effects of the plant.
This new activity is expected to create 10,000 new jobs, 20% of which belong to research.
As part of the project, regulation is needed with the creation of ARICCAME: the Agency for the regulation of the hemp and medical cannabis industry. The agency will therefore be formed with the ministries of health, productive development, science and technology, security, livestock and fisheries and agriculture.
The project foresees annual revenues of 400 million euros through sales on the domestic market as well as 40 million euros generated by exports. A project that seems very ambitious and promising.