Argentina’s government is laying the groundwork to establish a domestic industry of regulated medical cannabis sales while eyeing the international market.
The South American nation is targeting $500 million in local medical cannabis sales plus $50 million in exports by 2025, according to a Ministry of Productive Development report obtained by Reuters.
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“The industry has incredible potential,” Gabriel Gimenez, one of the three directors of the industry’s governing body – Agencia Regulatoria de la Industria del Cáñamo y del Cannabis Medicinal, or Regulatory Agency for the Hemp and Medicinal Cannabis Industry (ARICCAME) – told Reuters.
Gimenez said 51 projects are taking place around the country.
The ARICCAME national regulatory agency launched in January.
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The agency will look to establish clear rules providing legal certainty to the sector and monitor noncompliance with the regulatory regime.
The ARICCAME will also be responsible
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