Breaking News
Investing Pro 0
New Year’s SALE: Up to 40% OFF InvestingPro+ CLAIM OFFER

Argentina sets high hopes on cannabis exports with budding new agency

World Jan 25, 2023 07:14PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A cannabis plant is seen in a cannabis product factory in Bangkok, Thailand June 29, 2022. REUTERS/Soe Zeya Tun

(Reuters) - Argentina on Wednesday launched the first working group of a new national agency to regularize and promote the country's nascent cannabis industry, which ministers hope will create new jobs and exports generating fresh income for the South American nation.

"This opens the door for Argentina to start a new path in terms of industrial exports, on the basis of huge global demand," said Economy Minister Sergio Massa in a conference launching the national hemp and cannabis agency, ARICCAME.

"All this needs to be transformed into an industry which generates work, which generates exports for Argentina and which generates value."

Massa said that the agency would from Thursday begin regularizing programs and coordinating with various provinces and industrial sector, adding Argentina already counted on demand for projects linked to the agro-industrial sector.

Francisco Echarren, who will lead the agency, said the industry could generate thousands of new jobs, as well as create technological developments and new products for export.

"We have a huge challenge ahead of us," he said, "not only getting a new industry on its feet, but giving millions of Argentines access to products that improve quality of life."

Argentina legalized cannabis oil for medicinal use in 2017, allowing the federal government to grow marijuana for research and therapeutic purpose.

In 2020, Argentina allowed people to grow marijuana at home for medicinal use. The decree also allowed pharmacies to sell products derived from cannabis, and ordered insurers to cover marijuana-based medications for patients with a prescription.

Uruguay became the first modern country to explicitly legalize growing, selling and smoking marijuana in 2013. In Colombia, President Gustavo Petro has also spoken about more regulation to boost the country's budding industry.

Argentina sets high hopes on cannabis exports with budding new agency
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email