Colombia could export $6 billion a year in medicinal cannabis products, making marijuana its third-largest source of foreign exchange, the government said on Thursday, as investors called for simpler regulations for marijuana producers.
Colombian law already regulates the possession, production, distribution, sale and export of seeds and other marijuana products like oils and creams, but investors say the export approval process is tortuous.
“It’s possible to be a very important player at an international level in terms of exports. The estimates show we could effectively be at the level of $6 billion annually,” commerce vice minister Saul Pineda told attendees at the country’s first annual cannabis conference.
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