Ecuador says cannabis is a great opportunity


Minister Ontaneda: The medicinal cannabis industry is a great opportunity

More and more countries are turning to medical cannabis as a new opportunity that can create jobs. The consequences of the covid-19 pandemic will force countries to explore new industries to balance the economy and one of the options that could be applied in Ecuador is the cannabis for medical use industry. This Tuesday, May 12, 2020, the Minister of Production and Foreign Trade, Ivan Ontaneda, referred to it "the medical and industrial cannabis industry is a great opportunity for the country, it will generate thousands of jobs and dollars, "he wrote.

Minister Ivan Ontaneda

From June 24, the reforms of the General Criminal Code (COIP) approved by the National Assembly will be in force. These reforms include articles that regulate the use of medical cannabis for therapeutic or alternative medicine purposes, provided that a professional diagnosis proves that a disease is manifesting. In addition, cannabis or non-psychoactive hemp has been excluded from the substances included in the controlled tables, provided that its delta-9-tetrahydrocannabinol (THC) content is less than 1% by dry weight.

The ministries of agriculture and health have a little over a month to publish the respective regulations for the COIP reforms, which were published in the official register on December 24, 2019. The regulations gave 180 days to prepare the regulations . This Monday, May 11, 2020, the President of the Republic, Lenín Moreno, signed Executive Decree 1049, which provides for modifications to the general regulations of the organic law on the integral prevention of the socio-economic phenomenon of drugs and the regulation and control the use of cataloged substances subject to control. Moreno has officially changed the qualification and authorization to permanently handle cataloged substances subject to control for the activities and purposes determined by law. In addition, it replaced in all the regulations the articles which referred to the Technical Secretariat for Drugs, an entity which was deleted by the Head of State on April 24, 2018.

The blow to the economies of many countries by the COVID-19 coronavirus pandemic means that different governments see the cannabis industry as a possible and promising resource-generating aid, among others.

A few days ago, this is the Costa Rica, in the mouth of its president, who saw in the cannabis industry a possible aid to the productive sector. In fact, Carlos Alvarado told the Legislative Assembly: "We will promote the cultivation of hemp to reactivate the productive sector, with all the guarantees and security of the business."

Although the plenary of the Ecuadorian Assembly already approved the therapeutic use of cannabis last September and a few days ago, we received news of the Ecuadorian government's support for the cultivation of industrial hemp this week, it is the Minister of Production and Foreign Trade, Ivan Ontaneda, who will publish on social networks, more specifically on Twitter as mentioned The Trade, ”The medical and industrial cannabis industry is a great opportunity for the country, generating thousands of jobs and dollars.

The establishment of regulations and production of cannabis for industrial or medical use can be of enormous help to the countries that implement it. The great global demand for its products and the versatility of this plant, for different industries or sectors, make the production and cultivation of cannabis sativa an option that cannot be overlooked.

On June 24, new reforms to the General Penal Code approved by the National Assembly will take effect in the country. From this date, medical cannabis, the use of which is already regulated, may be used to treat various diseases or their symptoms. As long as conventional drugs have not been able to help.

In addition, cannabis with a low THC content, less than 1%, will be subject to its control. From this date, in Ecuador, medical cannabis or its derivatives can be prescribed or used under professional supervision. In addition, the cultivation of industrial hemp will be visible from this date in the Latin American country.

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