Albania’s Parliament last week voted to legalize medical cannabis and industrial hemp production, the Associated Press reports. The measure passed… Read More
Albania’s Parliament last week voted to legalize medical cannabis and industrial hemp production, the Associated Press reports. The measure passed 69-23.
The law will create a National Cannabis Control Agency, which will operate under the purview of the health minister, according to a Forbes report. The agency will regulate both the medical cannabis and industrial hemp industries.
Applicants must have at least three years of experience in at least three main activities related to the production, cultivation, and distribution of the cannabis plant for medical purposes and should own 51% of the company’s shares and have a company capital of at least of about $1 million.
Applicants must also be engaged in the production of cannabis plant by-products in an Organization for Economic Cooperation and Development (OECD) nation for a minimum of five years and be a holder of good manufacturing practices issued by either the European Medicines Agency or the U.S. Food and Drug Administration for at least three years, the report says. The law limits cannabis cultivation across the nation at 200 hectares and each licensee will be allowed to grow a minimum of five hectares and a maximum of 10 hectares.
According to Forbes, no Albanian company currently meets all of the conditions laid out in the law.