Economy

Australia Approves Medical Marijuana Exports as US Threatens Crackdown on Industry

Australia Approves Medical Marijuana Exports as US Threatens Crackdown on Industry

A significant boost is about to happen to Australia's medicinal cannabis market with the federal government having high ambitions for the industry.

Growers of medicinal cannabis there will soon be able to export their products to the world.

The Aussies plan to get in well ahead of New Zealand when it comes to exporting medicinal cannabis.

Regulations that now prevent exports of medicinal cannabis products will be changed once Parliament resumes in February.

The medicinal cannabis industry in Australia is now limited, but it's expected this move will see it expand significantly.

"We want a robust Australian medicinal cannabis industry so that doctors have safe, quality domestic products that they can confidently prescribe to their patients", said Hunt.

The Australian government has promised to change the law allowing producers to enter what's suddenly an extremely lucrative global market.

In 2016, Victoria became Australia's first state to legalise cannabis for medical use and was quickly followed by NSW.

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The health minister assured the medical community there was "now no real government barriers at all to accessing medicinal cannabis".

"It appears to me Greg Hunt's move is a sensible move forward", he said.

We asked if you would benefit from a more stable and secure supply of medicinal cannabis.

Hunt also said the government's focus was on the patients in Australia.

"The sector is fully supportive of that".

One condition for acquiring an export license, Hunt added, is that the product "be made available, when and if required, to Australian patients first".

The use of medicinal cannabis has been legal in Australia since 2016.

However, many doctors are yet reluctant to prescribe marijuana for patients because of inconvenient procedures that are required. But he assured they are working along with the College of Global Positioning System and Australian Medical Association to ensure that doctors have access to full information so they can ensure the best interest of patients.


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