Cannabis In Colombia: Senate Approves Marijuana Legalization Bill In 4th Round

By Joana Scopel via El Planteo

Although there are still more legislative steps to follow before it (potentially) enacted, the bill to legalize marijuana in Colombia was approved Tuesday by the Senate in a new instance. This is a law that legalized the use of cannabis in all its functions, including recreational.

The bill, which also received initial approval in the country's House of Representatives, passed the Senate during the fourth round of debate in a vote of 56-3, reported Marijuana Moment.

#PlenariaSenado | 📃✅ | Ha sido APROBADO en su totalidad el Proyecto de Acto Legislativo 033 de 2022 Senado, que busca modificar el artículo 49 de la Constitución Política de Colombia y regularizar el #Cannabis de uso adulto.
Votos:
✅ Si: 56
❌ No: 3#EsHoraDeRegular pic.twitter.com/nBEYYlWm9T

— Senado de la República � (@SenadoGovCo) December 6, 2022

The end of the prohibition in Colombia?

In recent weeks, legislators have met on several occasions to discuss the reform proposal. The measure would modify the Colombian Constitution to end the prohibition of cannabis for adults in the country.

This movement occurs about two weeks after the First Committee of the Senate approved the legalization bill.

Histórica aprobación en plenaria del proyecto para regularizar el #CannabisDeUsoAdulto en su cuarto debate. Avanzamos en el cambio de la política de drogas del país.
Gran equipo con @JuanKarloslos #EsHoraDeRegular pic.twitter.com/vQYcBtpnz5

— María José Pizarro Rodríguez (@PizarroMariaJo) December 6, 2022

Last month, in a public hearing on the Senate panel, the Minister of Justice, Néstor Osuna, said that Colombia has been the victim of “a failed war that was designed 50 years ago and that due to absurd prohibition has brought us a lot of blood, armed conflict, mafias, and crime.”

Sponsored by Deputy Juan Carlos Losada, the proposed constitutional reform contemplates the economic and public health impacts of legalization, as well as the ideological principle of individual autonomy.

¡Historico! Por primera vez el proyecto que regula el #CannabisDeUsoAdulto alcanza el cuarto de sus ocho debates.
Colombia avanza en una política de drogas basada en enfoque de prevención, respetuosa de las libertades y que genere oportunidades económicas.
#HoraDeRegular pic.twitter.com/Po7rMS750X

— Juan Carlos Losada (@JuanKarloslos) December 6, 2022

Adult-Use Cannabis Legislation: What’s In It?

The measure would support "the right to free development of personality, allowing citizens to decide on the consumption of cannabis in a regulated legal framework," reads the legislation. And it would mitigate "arbitrary, discriminatory or unequal treatment of the population that consumes [marijuana]."

The bill will restrict public possession and consumption in schools and certain public spaces. It also requires public education campaigns and the promotion of substance abuse treatment services, as Marijuana Moment reported.

President Gustavo Petro, the first leftist president of the country and who has been advocating strongly for an international end to drug criminalization since he took office in August, has also discussed the potential benefits of legalizing cannabis.

Finally, if the measure turns into law, officials would have six months to promulgate the rules for the adult-use market.

Are Multinational Cannabis Companies Interested In Investing in Colombia?

According to Cantor Fitzgerald's Pablo Zuanic, Cronos Group (NASDAQ: CRON) could invest in Colombia. “(...) the question mark here in terms of how the industry develops is whether," a country like Colombia, will be exporter or just seller "of cheap flowers, build brands, and create manufactured products,” said Zuanic.

“I expect the industry will consolidate across the value chain. I see large cannabis companies backed by CPG companies with a supply chain across the world, in Colombia, but I do not see small farmers in Colombia exporting flowers any time soon. Integration across the value chain, globally, is how I see the future,” concluded the analyst.

Nuestro contenido en Español:

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Image By El Planteo