Asia & Oceania

Canadian marijuana companies raised landmark CA$12 billion in 2018

Marijuana firms in Canada raised a record 11.96 billion Canadian dollars ($9 billion) last year as they prepared to meet demand in the new adult-use market and grow their medical operations globally. That represents a 150% increase over 2017, when Canadian companies raised CA$4.7 billion, according to data compiled by Viridian Capital Advisors and shared […]

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Chinese delegation will visit Israel to explore medical cannabis opportunities

A Chinese delegation from business and research circles is planning to visit Israel in the coming days to explore opportunities in the medical cannabis sector. Cannabis for medical use remains illegal in China, but if the country’s position changed – even just on CBD, it could open significant business opportunities in the world’s most-populated country. Other […]

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Australia medical marijuana turns corner as patient count surpasses 2,000

Australia’s medical cannabis market is gaining momentum, as approvals for the medicine surpassed 2,000 for the first time. The country saw 568 medical cannabis approvals in November, a 42% increase on-month, bringing the total number of approvals for the first 11 months of 2018 to 2,072, according to the Therapeutic Goods Administration (TGA), which regulates medical […]

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Israeli Parliament ends years of delays, approves medical cannabis exports

After years of delays, the Knesset – Israel’s Parliament – unanimously approved a law to permit exports of medical marijuana late Tuesday. Some analysts believe the move could unlock a market worth up to $4 billion. To assuage concerns from security officials that medical marijuana would leak into the black market, the law empowers police […]

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Thailand legalizes marijuana for medical use, research

Just one month after a proposed law breezed through a key hurdle, Thailand’s National Legislative Assembly voted 166-0 (with 13 abstentions) to allow medical marijuana and cannabis research. The move came as a year-end surprise because the Assembly was expected to take 60 days to deliberate the draft. The Southeast Asia nation could be sitting on […]

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Breakthrough for Philippines medical cannabis bill; momentum builds in Asia & Oceania

Philippine President Rodrigo Duterte now says he will support any legislation to legalize medical marijuana, giving a cannabis bill currently before the country’s House of Representatives a much greater chance of success. The Philippine Compassionate Medical Cannabis Act, which would legalize some forms of MMJ, had faced an uphill battle to become law, but Duterte’s […]

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New Zealand sets ‘binding’ cannabis legalization referendum

A week after approving medical marijuana, New Zealand’s government announced that a binding referendum on ending cannabis prohibition will be held alongside the general election in 2020. If the prohibition is struck down, New Zealand would be the first Group of Twenty nation in Oceania – and the second in the region – to legalize […]

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New Zealand legalizes medical cannabis for domestic, export markets

A bill to legalize medical marijuana on Tuesday won the approval of New Zealand’s parliamentarians on its third and final vote, paving the way for companies to manufacture MMJ products for domestic and international markets. The law will come into force the day after it receives Royal Assent – a formality in most Commonwealth countries. […]

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Draft medical marijuana law in Thailand breezes through key hurdle

A draft bill to legalize medical cannabis in Thailand breezed through a key hurdle in the National Legislative Assembly when 145 lawmakers voted to advance the proposed law. A vetting committee for the bill has been established, according to Bangkok-based The Nation, and the Assembly will take 60 days to further deliberate the draft. Some […]

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Report: $5.5 billion up for grabs if Australia legalizes cannabis

A new report pegs Australia’s recreational cannabis market at 7.8 billion Australian dollars ($5.5 billion) – assuming a fully legal and regulated market is put in place by 2023. In neighboring New Zealand, commercial opportunities from a fully regulated recreational marijuana industry would top 977 million New Zealand dollars ($634 million), the report from United […]

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