In 2020, we are celebrating five years of CannaTech global cannabis conferences. Each of these has taken us to different continents and contributed to our growing ecosystem. CannaTech is an international event experience that unites cannabis professionals with breakout industry leaders for an unparalleled opportunity to learn, connect and define what’s next for the global cannabis industry. In emerging markets around the world, CannaTech attendees and sponsors gather to drive the cannabis industry’s growth and showcase leading researchers, scientists, entrepreneurs, advocates and influencers.
With rapidly expanding economies and shifting regulation, we are checking in on some of our hosts around the world to see what’s happening in the local cannabis landscape:
Global Cannabis Highlights
Tel Aviv, Israel
Israel benefits from a comprehensive legal medical cannabis infrastructure with six ministry departments participating in cannabis regulation, research and standardization. Initial applications prescribed cannabis to patients in the 1990s and 50,000 patients are currently licensed with this number expected to increase steadily. For non-licensed use, cannabis possession under 15 grams and personal adult use were officially decriminalized in April 2019. Israel’s early entry into the market has propelled both the local and global cannabis industry. Currently, the Tel Aviv Stock Exchange has close to 30 publicly listed cannabis companies with an estimated value of NIS3.4 billion.
CannaTech’s flagship Tel Aviv conference takes place this March 30-31. Tickets are on sale now, and sponsor and speaker opportunities are currently available.
Cannabis possession under 10 grams and personal adult consumption were decriminalised in Switzerland in 2012, however, the production, cultivation, use, and possession above 10 grams are still considered criminal. Since 2017, cannabis, with less than 1.0% of THC is legal across Switzerland and widely available. Since June 2018. CBD-derived epilepsy drug Epidiolex is currently available in Swiss pharmacies as a prescription drug.
Davos is known as the centre of the world’s economy and the meeting place of the world’s greatest leaders, innovators and influencers. CannaTech is returning to Davos this January 20-24 to highlight the economic role of global cannabis in the future of healthcare, international trade and investment, and environmental and resource security.
Cape Town, South Africa
In September 2018, South Africa’s Constitutional Court effectively decriminalised cannabis for private adult use. The South African parliament has two years to define and formalise legislation. CBD was removed from the country’s Medicines and Related Substances Act in May 2019, allowing South Africans to purchase and consume CBD.
This November, CannaTech’s Cape Town cannabis summit invited researchers, advocates and stakeholders from across Africa and the world to connect, learn and create new opportunities for the global cannabis industry.
Panama City, Panama
In October 2017, José Castillo, president of the health committee in the Panamanian legislature, introduced a bill 595, that would legalize medicinal cannabis oil and address the difference between THC and CBD products. To pass, the bill must successfully progress through three debates within the legislature. The bill passed its first debate in March 2018, but in April 2019 this was rescinded over security and access concerns.
“Latin America is a key and growing player in the global cannabis industry. Medical cannabis is legal in 10 Latin American countries and that list is growing. Demand for medical cannabis among patients is rapidly expanding. Cannabis business interest in LATAM is exploding due to numerous factors including low cost of production and facilities as compared to North America and Europe. It is estimated that the region’s cannabis market will be worth $12.7 billion in 2028 while the medical cannabis market is forecast to be worth $8.5 billion within the decade.” -Saul Kaye
Australia legalized medicinal cannabis at the federal level in February 2016 and this past September the Australia Capital Territory passed a bill legalising cannabis for personal adult use as of January 31, 2020. Although the new law legalizes cannabis at the state level, Australian federal law still prohibits recreational cannabis. Several officials stating that the government will override the ACT regulations before they go into effect, but hopefully Australia will enjoy legal adult-use cannabis this year.
Australia is a rapidly expanding cannabis market with tremendous investment potential and a large consumer population.
Hong Kong, China
China is the number one exporter of hemp paper and textiles, yet cannabis is illegal across the country. Hemp-derived CBD is legal in Hong Kong for sale, purchase, and distribution since cannabidiol isolate is not included in the Dangerous Drugs Ordinance. However, products must have 0.0% THC content to be allowed on the market. Interest in cannabis investment was strong at the CannaTech investor symposium with more than 200 people in attendance.
As a comprehensive and established hemp superpower, China is poised to dominate the global effort to produce hemp-derived CBD and hemp materials that are disrupting traditional industries, including textile and concrete.
CannaTech Global Cannabis Events in 2020: New Regions, New Research, New Ventures.
We are celebrating CannaTech’s 5-year anniversary with exciting events around the world. Together with our partners, speakers and audience, we inspire conversation, create connections between stakeholders, and showcase potential dealmaking and investment opportunities. Join CannaTech’s ecosystem and become part of the global cannabis conversation.