Israeli medical marijuana firms may flee if export ban persists

Israel’s medical marijuana industry stands to lose out on substantial financial gains if an export ban ordered by Prime Minister Benjamin Netanyahu continues, industry experts warned Monday.

In February, a media report said that Netanyahu halted a plan to export medical marijuana for fear of upsetting US President Donald Trump, even as ministers have valued the export market at more than $1 billion annually.

“The government is missing out on a massive opportunity to become the world leader [in the sector],” said Saul Kaye, CEO of CannaTech and ICAN Israel, at a cannabis innovation conference in Tel Aviv on Monday. “This is a mature robust RD-focused opportunity that is looking to globalize. So, if the government misses out, we’ll all end up working in Slovenia.”

ICAN is a pharmaceutical company that

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