Fiji takes bold step towards medicinal cannabis industry

April 3, 2024 3:20 pm

[File Photo]

The Ministry of Trade has seen a notable shift in the global perception of cannabis, with more countries acknowledging the therapeutic potential and the economic opportunity it presents.

This was highlighted by Permanent Secretary for Trade Shaheen Ali while delivering the keynote address at the Medicinal Cannabis Training Course at the Suvavou House in Suva.

Ali says the medicinal cannabis market is expected to witness significant growth worldwide.

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He adds that in Australia and the Oceania region, the market is forecast to achieve a revenue of $19,101 million (USD 8,362.7 million) by 2024, and Fiji as a country has a chance of growing this figure and contributing more from the Oceania region.

Ali highlighted that the government had foresight and took the bold step of proposing the introduction of a medicinal cannabis industry.

He adds that they have also engaged with international and technical partners to support Fiji in progressing the development of the medicinal cannabis industry, including the positive spillover to the nutraceutical industry, that is, the use of traditional medicines for economic growth.

Ali adds that the new industry has the potential to contribute to the government’s economic diversification goals and create jobs and new exports.

Therefore, the government wants the right policies, strategies, and legal framework to ensure long-term viability and sustainability.

The two-day training will end tomorrow.