Israel’s cabinet is expected to approve on Sunday a highly anticipated law to permit the export of medical marijuana, announced the Finance Ministry on Wednesday, in a move that will likely increase state revenues.
The bill, which the Knesset unanimously passed in December, allows for such cannabis to be shipped to countries that allow its use after receiving permission from their regulator.
“The bill is expected to open a new market for Israeli producers, which is expected to increase investment in the fields of agriculture, research and production, and create new jobs,” said the ministry.
The government estimates that such exports could increase tax revenue by $272 million. It added that the measure would impose stringent regulations, heavy fines and possible jail time for violators.
