Mexico wants to become a large legal market by issuing regulations on medicinal cannabis
Mexico's health ministry on Tuesday released rules to regulate the use of medicinal cannabis, a major step in a broader reform aimed at creating the world's largest legal cannabis market in the Latin American country, according to a report of Reuters. The move will allow pharmaceutical companies to begin conducting medical research into cannabis products, and is part of a broader policy reform to regulate medical cannabis and adult consumption in Mexico, the agency reported. hurry.
The new regulations were signed by President Andres Manuel Lopez Obrador, and will now allow pharmaceutical companies to start doing medical research on cannabis products. The ongoing cannabis reform includes the recreational use of marijuana and will create what would be the largest national cannabis market in the world in terms of population.
Under the new medical rules, public companies wishing to conduct research must obtain permission from the Mexican health regulatory authority, COFEPRIS, and such research must be carried out in independent and strictly controlled laboratories.
“The level of regulation is very, very high,” said Luisa Conesa, a lawyer and pro-cannabis activist who has spearheaded the legal challenges that led to the decriminalization of medical cannabis.
“The regulation” does not target patients who grow their own cannabis, it targets pharmaceutical companies that produce pharmaceutical derivatives of cannabis that are classified as controlled substances requiring a prescription ”.
The regulations also set rules for the seeding, cultivation and harvesting of cannabis for medical purposes, which would allow companies to legally grow marijuana on Mexican soil. While certain imports of cannabis plants are permitted for companies seeking to create products, exports of cannabis grown in Mexico are prohibited.
Foreign cannabis companies in Canada and the United States have carefully reviewed the country's legislative developments. Indeed, many have delayed their investment decisions due to political uncertainty and waited for the publication of the final regulations.
Cannabis regulations a major turning point in a country plagued by cartel violence
Mexican lawmakers are also in the final stages of legalizing the recreational use of marijuana, with the bill due to be passed in the next period of Congress. The legislation marks a major turning point in a country plagued for years by violence between rival drug cartels, which have long earned millions of dollars by illegally cultivating marijuana and smuggling it into the United States.
This measure will allow pharmaceutical companies to start conducting medical research on cannabis products
The regulations also include rules for growing and harvesting medical cannabis and while some imports of cannabis plants will be permitted for companies seeking to produce medical cannabis products, the regulations prohibit the export of cannabis. Mexico's Supreme Court ruled in 2018 that an absolute cannabis ban was unconstitutional, forcing lawmakers to pass legislation to legalize cannabis at the federal level. Lawmakers have repeatedly delayed the vote on legalizing adult cannabis, but final legislation is expected to pass in the next congressional legislature, according to Reuters.