Tuesday 6 June 2023

Experts will analyze international hemp and cannabis markets, the challenges and opportunities for Costa Rica

During the event, international markets and national regulations will be analyzed one year after its approval.

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6 June 2023 - At The Banks - Source: BCCR

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QCOSTARICA (Summa) More than a year after signing the Law on cannabis for medicinal and therapeutic use and hemp for food and industrial use, Costa Rica in general has not finished taking the step that would allow it to be part of the world market, according to professional assessments. in the matter.

During the event, international markets and national regulations will be analyzed one year after its approval.

The reasons for this slow progress are attributed by experts to the lack of knowledge on how to produce, treat and export plants and derived products, as well as the way in which large international markets such as the United States and Canada are managed, which, depending on their demand behavior, they can become large customers in Costa Rica.

Read more: Government signs regulations of the Cannabis Law for medicinal and therapeutic use

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“The country is at a very different stage now, a year ago it was getting to know what hemp and cannabis were, and their benefits as a local and international industry, but now the sectors interested in developing this market and being part of this industry that has development, employment and profits to the nations that promote it, must know other concepts,” explained Roy Thompson, former legislator and President of the Costa Rican Hemp and Cannabis Council, and one of the promoters of industrial hemp and medical cannabis legislation.

With the aim of supporting the local market on the development path, these and other issues will be presented by a panel of specialists in the field in the keynote talk “International hemp and cannabis markets, challenges and opportunities for Costa Rica”.

The event will take place on Tuesday, May 2 at the Ulacit auditorium in San José, and only 120 spaces will be enabled. Tickets can be purchased on the website www.datacheck.cr.

The talk is focused on providing the necessary information to people who are interested in participating in the hemp and cannabis industry, and will also be useful for professionals from legal firms, law firms, and companies related to regulatory issues, as well as the people in charge. of international transport, vital in an industry that focuses on exports.

National regulation will also be analyzed. Another topic that will be analyzed and explained in detail will be Costa Rican legislation, the modifications it has undergone, and the regulations issued by the Executive Power; a law that according to analysts projects uncertainty in the business climate in the country.

“The Costa Rican market has lost an important year that could have been used to attract investment, improve regulations, promote the industry in businessmen and agriculture. In my opinion, what should be done is review, reform, modify and start from scratch again so that confidence in the regulation returns and with this the business climate improves”, explained Roy Thompson.

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The presentations will be given by representatives of Sfera Legal, members of companies dedicated to medical cannabis in the United States, specialists in testing requirements in the US market, and the main promoters of industrial hemp and medical cannabis legislation in the country.

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