Asia & Oceania Cannabis Industry & Marijuana Business News

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

(Update: A proposed law in the Philippines died in the Senate after President Rodrigo Duterte had a change of heart and withdrew his support.) Original: 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 […]

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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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Vanuatu takes first steps to legalize medical marijuana

Vanuatu, an archipelago in the South Pacific Ocean, plans to introduce legislation later this year or next spring to launch an “ethical” medical cannabis industry. The Council of Ministers – effectively the country’s cabinet – approved a “Policy Direction on Cannabis” to lay the groundwork for the local cultivation of medical cannabis and industrial hemp. The […]

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Is Canada’s marijuana legalization a ‘template’ for the world to follow?

Canada took its first steps into a future of legal cannabis Wednesday, but what that means for prohibition in other countries largely remains to be seen. Will other countries follow Canada’s move toward ending prohibition? What impact will ending prohibition there have on global medical cannabis markets? Canadian Senator Tony Dean believes every country will […]

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Medical marijuana firm raises $15M ahead of Australian Stock Exchange listing

An Australian medical marijuana company raised $20 million Australian dollars ($14.6 million) in its initial public offering and will begin trading Friday on the Australian Stock Exchange. Melbourne-based Althea Group will use the proceeds to fund a cannabis production facility, the Australian Associated Press reported. The company sold its shares for 20 Australian cents apiece, giving […]

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