A new industry is emerging in Argentina
While some say that the approval of such a law will undoubtedly lead to a "multiplication of consumption", taking the example of Uruguay, the promoters of the law in question are very clear on the need to establish clear boundaries in order to distinguish between freshly regulated activities and those that remain illegal.
Moreover, new cannabis-related industrial activities will tend to boost Argentina's economic performance, according to recent estimates. As such, the nascent legal industry could potentially create more than 10,000 new jobs by 2025.
Cannabis for medicinal purposes: the beginning of a new phase and unprecedented openings
One of the main objectives of this norm is to provide a regulatory framework for public and private investment in the entire medical cannabis chain to complement the current legislation, namely Law No. 27,350, passed in 2017. The latter, authorising the therapeutic and palliative use of the plant, already establishes a legal framework for medical and scientific research on medical cannabis and its derivatives. As far as industrial hemp is concerned, the new standard aims to create legal production and trade links. A regulatory agency will also be set up, the ARICCAME, with technical and functional as well as financial autonomy.
Today, more than 25,000 products are made from hemp and cannabis. According to Ricardo Buryaile, president of the Agriculture and Livestock Commission, it was therefore more than necessary to pass a law capable of overcoming the lack of control over cannabis production by considering the stages of production and commercialisation for medicinal purposes. A first for the country...