Israeli firm most current to bag Greek license

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AUTHOR: Mark Taylor

PUBLISHER:  CANNABIS LAW REPORT

Greece’s government has issued a cultivation licence to an Israeli firm, as it continues to open its arms to the medicinal cannabis trade.

Tikun Olam, Israel’s “first and biggest supplier” of health-related cannabis was offered the official go-ahead by the Greek government to set up facilities for cultivating, processing and advertising and marketing industrial and pharmaceutical cannabis in the Corinth location.

According to the Greek Government publication Gazette, Tikun Olam landed a licence for a factory plant in an location of about four.02 hectares in Examilia, in the Corinth prefecture.

The organization, operating below licence from the Israel Ministry of Wellness given that its establishment in 2006 by the Cohen household, is investing €9m and is at the moment installing the manufacturing plant’s mechanical gear.

Final year it established Tikun Olam Greece, claiming to be the world’s very first organization permitted to develop (and export) in Greece, on 1 of the biggest medicinal cannabis websites anyplace at 400 acres.

It will commence production as quickly as the National Organization for Medicines (EOF) concerns its production and distribution licence.

Regional professionals told Cannabis Law Report they anticipate numerous additional licenses to be handed out in April and May perhaps.

Greece legalised cannabis for health-related use in 2017 and lifted a ban on developing and generating it in March 2018, as it seeks to bolster government coffers following a decade of austerity.

Even so, no organization has secured all 3 approvals essential from Greece’s government to commence a complete operation in the nation, according to investigation.

All cultivation licenses are for a 5-year period and are reviewed annually.

Bioprocann SA was the very first recipient of a Greek licence, and Biomecann was the second. The organizations pledged to invest invest a combined $25m and employ more than 100 individuals.  

Canadian and Israeli firms have been amongst the very first to express an interest in Greece following its liberalisation, approval would give them European Union accreditation to target exports to larger and wealthier markets inside the bloc such as Germany,

Israeli organizations are amongst the world’s largest producers of health-related cannabis, utilising the sunny climate and the jurisdiction’s developing reputation as a international technologies hub.

The nation has also cultivated a reputation for experience in cannabis production, the by-solution of help of the technologies and health-related sectors.

A domestic ban on exports forced firms to get land elsewhere, but earlier this year the government passed a law repealing the ban.

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