The initiative, which has been approved by the Senate, creates the regulatory framework for the production and national commercialization for export of the cannabis plant, its seeds and derived products for medicinal use, including scientific research and industrial use, promoting the development of the sector’s production chain.

In addition, a regulatory agency, the Agencia Regulatoria del Cáñamo y del Cannabis Medicinal (ARICCAME in Spanish), will be created. It will regulate the import, export, cultivation, industrial production, manufacture, commercialization and acquisition of seeds, the cannabis plant and its derivative products for medicinal or industrial purposes.