As the medicinal cannabis market continues to expand in Europe and the rest of the world, more countries, entities, and territories are now showing interest in being a part of this increasingly profitable industry.
Countries like Malta, Portugal, and Denmark are looking for ways to begin their own medicinal cannabis production, while countries like the UK intend to expand their medicinal cannabis distribution and develop related businesses, both in the food and medical industries.
Now, one more territory is beginning to show interest in joining this medicinal cannabis world.
The government of Gibraltar, a British territory located on Spain’s coast, has announced to the local press that it’s interested in pursuing production, research, and development in the field of medical cannabis.
Chief Minister Fabian Picardo, the government’s spokesman on the matter, recognizes the value of this sector and the opportunity to give Gibraltar’s economy a much-needed boost. The government is now considering distributing a few licenses to suitable investors, just like Germany recently did.
According to Picardo, the proposals for the licenses “include the research, development, and production of medicinal cannabis products in carefully monitored and regulated state of the art, environmentally advanced facilities”.
The Chief Minister expects this new sector and technology advances to attract specialized and talented research and production resources, thus “producing a new world-class ecosystem” in the sector, as well as creating new jobs and posts for Gibraltar citizens.
The Chief Minister has also announced the establishment of a specific Agency within the government, dedicated to establishing Gibraltar’s position within the medicinal cannabis sector.
The Agency’s duties will be associated with managing research matters, choosing suitable purchasers, facilitating trade with third parties, and ensuring the quality of product supply, while also “meeting local and international standards and full transparency”. The purpose of this Agency will also be to promote Gibraltar’s international relations and contacts within the sector.