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Colombia boosts budding cannabis industry by removing ban on dry flower exports

BOGOTA, July 23 (Reuters) – Colombia on Friday gave the green light for exports of dried cannabis for medical and other industries, as the Andean country took another step to develop its marijuana industry, where progress has been slow despite high potential.

President Ivan Duque signed a decree lifting a prohibition on exporting dried cannabis flower, a move seen as crucial by investors.

The directive also allows for the expansion of sales of cannabis-based medicines and streamlines regulatory procedures.

While Colombia has been hailed as a pioneer in regulating the possession, production, distribution, commercialization and export of seeds, plants and substances derived from cannabis – like oils, creams and extracts for medicinal purposes – investors have long complained about what they say is a tortuous export-approval process.

“This means Colombia can enter to play a big role in the international market,” Duque said after signing the decree, adding the new rules would allow Colombia’s cannabis industry to expand into food and drinks, cosmetics and other sectors. [Read More @ Reuters]

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