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The nascent medical cannabis industry in Colombia opens new paths in terms of economic development and business opportunity. Various government, business and research needs regarding its ‘scientific use’ offer a range of commercial opportunities for those with a cannabis license in Colombia. Research-based businesses can gain a commercial advantage in Colombia’s cannabis industry by obtaining a...
The world is watching Latin America, as key players lead the world’s developing cannabis industry. Looking at recent trial steps taken by the government, the market for cannabis in Paraguay appears to be one of the next to develop. Several countries have already reviewed and changed their local laws on cannabis cultivation, manufacture, distribution and exporting and importing. We look at...
Uruguay is one of the Latin American countries with the most stable economy, experiencing positive growth for almost 16 years now. Its GDP reached US$59.6 billion in 2018. Having achieved a 2% growth rate in 2018, its GDP is expected to continue to grow in 2019 and 2020, with a growth of 3.2 and 3.4%, respectively. Foreign direct investment is estimated at over US$29 billion and represents 48.2%...
Latin America has taken a firm grasp of the global cannabis industry. This year Colombia is set to produce 40.5 tons of the medical cannabis plant, which is 44% of the global quota allowed by the International Narcotics Control Board (INCB). An increasingly lucrative area of cannabis production is manufacturing derivatives from the plant. All parts of the plant can be used from the root,...
As expected, Ecuador has been the most recent nation to join the unstoppable bandwagon – the medical cannabis industry. The Ecuadorian National Assembly passed legislation to approve the production, commercialization, use, and consumption of cannabis for medicinal or therapeutic treatment on 17 September 2019. This makes Ecuador the fifth Latin American nation in quick succession to legalize...
As the trend for legal cannabis production continues to sweep across Latin America, Ecuador moves one step closer to the plant’s legalization. In mid-September 2019, the National Assembly of Ecuador approved some proposed reforms to the Ecuadorian Criminal Code, including reforms related to cannabis consumption. Although a small change in legislation, this is a large step in the direction of...
In terms of the unfolding cannabis market, all eyes are on a handful of countries who have begun the process of decriminalizing the plant and its derivative products at varying degrees. Australia is considering law reform around cannabis use. Medicinal cannabis is permitted under Australia's legal framework, and import channels are open to opportunistic entrepreneurs looking for new...
Traditionally, New Zealand is famed for its vast agricultural industry and booming tourism sector. It’s a little-known fact, however, that New Zealand’s sector breakdown rewards agriculture as just a 6% contributor to the nations GDP. The services sector, however, represents 65% of the economy. Despite its major contribution to GDP, the services sector is often overlooked in favor of other...
Argentina is the third-largest economy in South America, with a gross domestic product (GDP) of about US$518 billion. The country has abundant natural resources (fertile land, strong mining sector). The country also has a highly educated workforce that allows it to have its high-tech industry as an economic leader. For some years now, the global perception of all the aspects of cannabis has been...
Paraguay is now competing with regional powers for an increasing cut of the region’s foreign direct investment. Thanks to prudent fiscal policymaking, landlocked Paraguay pulled through troubled times when its major trade partners, Brazil and Argentina, were hit by the 2008 global financial crisis. The country has experienced positive economic growth since the arrival of now ex-President Horacio...