Israel gives final okay for export of medical cannabis

Israel has given final approval for the export of medical cannabis — an industry it expects to generate hundreds of millions of dollars in revenue, Reuters reported.

A free export order for medical cannabis products was signed Wednesday by outgoing Economy Minister Eli Cohen.

The cabinet first approved export in January 2019, but required that a committee made up of the Finance and Health ministries write and approve the actual procedures for labeling, instructions and dosages.

Exporters must apply for and receive a license from the Health Ministry.

There are at least eight cannabis-growing companies operating in Israel, along with several others involved in production, marketing and distribution. Several companies already have interested buyers abroad.