The Government of Argentina launches National Cannabis Agency

File – Thousands march in several cities in Argentina to demand the regulation of medical cannabis as part of the 2016 Global Marijuana March (FILE). – MMM 2016

The Government of Argentina has launched this Wednesday the Regulatory Agency for the Hemp and Medical Cannabis Industry (Ariccame), with which it seeks to promote public policies to regulate the use of medical and industrial cannabis throughout the country.

The agency, which will be a decentralized body under the Ministry of Economy, aims to develop a sector with a potential of more than 500 million US dollars (457 million euros) in sales and a generation of 10,000 jobs, as reported by the agency Télam.

The National Cannabis Agency will regulate the chain of production, national commercialization and exploitation of the cannabis plant, its seed and its derivative products for medicinal use, all this by extending licenses and authorizations to companies and organizations that comply with the requirements demanded by the current regulations, approved by the Argentine Executive in May 2022.

«Putting the agency into operation means starting a new industry in Argentina. An industry that has 25,000 different applications. An industry that will allow us to add value (…) in an innumerable number of economic sectors in Argentina and the world», highlighted the Argentine Minister of Economy, Sergio Massa, during the announcement.

In addition, the Minister of Economy emphasized that the Agency «opens the opportunity for Argentina to start a new path in terms of export industry based on a huge global demand», as reported by the above-mentioned agency.

«We already have in demand from industrialization projects and programs to agro-industrial programs in the Secretariat of Agriculture. All this has to be transformed into an industry that generates jobs, exports to Argentina and generates value», added Massa.