The government of Germany recently published a proposal detailing its plans to legalize and regulate the recreational use of marijuana. The 12-page plan excludes cannabis imports, which means that the plant will be cultivated in the country. This will be a blow to some global producers who had plans to import their products into Germany, which is said to be the biggest economy in Europe.
In a news conference last week, the country’s Health Minister, Karl Lauterbach, stated that plans were underway to ensure complete cultivation in Germany.
The proposal, which was endorsed by the German cabinet, suggests that the program may be launched in 2024. However, before it is brought before legislators, a blueprint will have to be forwarded to the European Commission for approval. This will help ensure that the law is compatible with EU and international drug laws.
Lauterbach added that Germany would argue that the plan was aligned with global treaties, noting that the legislative process would only proceed after the plan was approved by the European Union. This suggests that these proposals may undergo amendments before they’re presented in a draft law.
The plan proposes the regulation of adult-use marijuana to protect the youth and disintegrate the country’s illicit market, in an approach similar to that of Canada. The proposal also suggests that marijuana will be sold in pharmacies as well as in approved stores, to individuals aged 18 and above. Marijuana purchases will be limited to 20-30g. Germans will also be allowed to grow no more than 3 plants at home.
The proposal states that cultivation will be permitted in greenhouse and indoor facilities to ensure quality control. However, it doesn’t touch on any possible production quotas, which currently govern Germany’s medical marijuana cultivators.
The proposal explained that the entire trade and supply chain will be subject to a controlled system which will include documentation for every step in the chain. Activities like cultivation, processing and distribution as well as retail and wholesale sales will only be carried out by licensed parties.
In addition to this, the proposal states that individuals applying for licenses will be required to demonstrate proof of sufficient financial resources and creditworthiness and proof of entry into the European Union’s beneficial ownership registry as well as expertise.
If the proposal is approved by the EU, it could be used as a blueprint for broader marijuana reform in nations across the EU who’d like to jump on the bandwagon.
That provision allowing home cultivation could very well create a potential market for indoor cultivation equipment commercialized by various entities, such as Advanced Container Technologies Inc. (OTC: ACTX).
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Do you have questions or are you interested in working with CNW420? Ask our Editor
CNW420 is part of the InvestorBrandNetwork.