The State of Israel may now be considered the “land of milk, honey and cannabis,” former prime minister Ehud Barak said as he opened the two-day CannaTech Tel Aviv conference on Monday.
“The cannabis industry is at a unique turning point, turning within a dramatically short time-frame from a pariah to a main-stage industry. Some 35 countries have already legalized cannabis to a certain extent, either medical or sometimes even recreational use,” he said.
The global medical cannabis market was valued at $8.3 billion in 2017, and is projected to soar in value to $28b. by 2024, according to a recent report by Energias Market Research. In January, the Israeli government approved exports of domestically-grown medical cannabis to the worldwide legal market.
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