Argentina and Brazil Collaborate to Grow the Medical Cannabis Market

The governments of Brazil and Argentina have decided to join forces to further develop the medical cannabis market in their countries. The Argentine Chamber for Cannabis Affairs and the Brazilian Cannabis Industry Association have signed an agreement for the joint production and sale of medical cannabis. Both countries already have regulated markets for the medical use of cannabis, but the governments believe that this collaboration will be mutually beneficial.

“More than 50 countries have already realized the advantages that cannabis brings to the economy and society, especially when its production is well regulated. Our mission in this partnership is to work together to accelerate the technical and technological development of the medical cannabis industry in Brazil and Argentina,” said Thiago Hermano, head of the Brazilian Cannabis Industry Association.

Argentina Invests Millions in Medical Cannabis Production

Argentine President Alberto Fernández announced that millions of dollars will be invested in the pharmaceutical sector for the production of medical cannabis. He emphasized that his administration will promote a bill aimed at scaling up the production and processing of medical cannabis to an industrial level.

“Cannabis has very beneficial properties for medical and industrial purposes. The global medical cannabis industry will triple its turnover in the next five years. The bill provides for its cultivation exclusively for medical and industrial use,” President Fernández stated.

Multi-million dollar investments have already been agreed upon with laboratories. The national government and the pharmaceutical sector have reached an agreement to invest in the production of medical cannabis.