Conservative and center-left parties reached an agreement Wednesday to form a new German government that leaves the country’s progressive marijuana policies intact – at least for now.
German election winner Friedrich Merz, who is set to replace Chancellor Olaf Scholz in May, needs approval from the Social Democrats and Merz’s Christian Democratic Union (CDU) party before the transition can take place, the Associated Press reported.
Niklas Kouparanis, CEO and co-founder of Frankfurt-based medical cannabis company Bloomwell Group and operator of Germany’s largest telemedicine platform, said the new government is holding off on evaluating the existing Cannabis Act, which enabled the establishment of marijuana social clubs.
“Germany’s cannabis industry is breathing a sigh of relief,” Kouparanis said in a statement.
“The new government is sending a strong signal: Germany’s legal cannabis industry is sustainable even under a CDU chancellor.”
Kouparanis said Germany’s cannabis industry will reap such benefits as:
- More global interest and investors.
- The creation of more jobs.
- Rising sales.
- More tax revenue for the government.
- Continued help for a million-plus medical cannabis patients.
“The Coalition agreement confirms what many already forecasted: Legal cannabis is here to stay,” Kouparanis said.
“There is a tremendous amount of opportunity for this market to continue to thrive in Germany and for patients in need to have access to the plant.”
