Thailand is paving its way toward allowing private production and sale of marijuana for medical use.
According to Reuters, the country’s cabinet approved amendments to its narcotics act on Tuesday. Once they are legally reviewed, the amendments will be sent before the Thai parliament.
Thailand legalized marijuana in 2017, and was the first Southeast Asian nation to do so.
“The law will promote the pharmaceutical industry and increase competitiveness,” said Anutin Charnvirakul, Public Health Minister.
The country aims to become a leader in medical cannabis, added Charnvirakul.
However, possession of recreational cannabis is still illegal and punishable in the country.
Meanwhile, in South America, Brazil has been witnessing a growing number of personal imports of cannabis.
According to the country’s health regulator, Brazil counted 18,650 individual patients who imported nonregistered medical cannabis products at the end of March, reports Marijuana Business Daily.
The imported products must be signed off by a doctor and the National Sanitary Surveillance Agency.
The health agency said that imported products are not restricted to CBD only, even though they represent the majority.
Last year, Brazil adopted new rules permitting cannabis products, which were not subject to clinical trials, to receive “sanitary authorization.”
These products can be manufactured in-house and also distributed via pharmacies.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.