Lawmakers in Israel are likely to recommend that the nation should start exporting medical cannabis soon, saying the industry would create thousands of agricultural jobs and be worth 1 billion Israeli New Sheqel (more than $2.6 billion), according to a Yediot Ahronot report cited by Globes.
The plan was proposed by the inter-ministerial committee of director generals comprised of the Ministries of Justice, Finance, Public Security and Health. Of the four ministers, only Minister of Public Security Gilad Erdan is opposed to the measure, fearing that it would flood the informal market with cannabis for non-medical use.
There are about 26,000 licensed medical cannabis patients in Israel, and that number is expected to double by 2018.
A portion of the tax revenues from the exports would be used to fund programs aimed at chronic disease prevention and treatment. In addition to Israeli cannabis being sold in the pharmacies of nations with medical cannabis laws, the ministers say that the products would be made available to universities and hospital for research purposes.
The plan would require cabinet approval and legislation would have to be passed that would allow farmers to grow cannabis. An announcement on the proposal is expected to be announced within three weeks.