Bermuda to allow domestic production of medical cannabis

The Premier of Bermuda, David Burt, has announced the forthcoming legalization of local medical cannabis cultivation, and is inviting foreign manufacturers to contribute their expertise in regulating the industry. This collaboration signals a strong vision of the economic and health potential of cannabsi for Bermuda.

Canadian companies invited to Bermuda

The Premier of Bermuda is looking to attract foreign investment to boost the local economy. He has therefore approached multinational medical cannabis companies to prepare for the launch of this new industry.

One of the companies invited was, of course, Canopy Growth, Canada's medical cannabis giant. Its CEO Bruce Linton met with members of the Bermuda government Cabinet. Following the meeting, the Premier tweeted, «We welcomed the CEO of Canopy Growth to the Cabinet Office following the announcement of the establishment of a domestic medical cannabis production regime in Bermuda. We invite companies like Canopy to invest in local businesses to create jobs and partnerships.».

Welcomed the CEO of @CanopyGrowth to the Cabinet Office following the announcement that #Bermuda shorts will establish a regime for domestic production of medicinal #cannabis. We invite companies like Canopy to invest in local entrepreneurs to create more jobs & partnerships in Bermuda. pic.twitter.com/4O1DNqd9WB

- Premier David Burt (@BermudaPremier) November 22, 2018

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Jordan Sinclair, vice-president of communications at Canopy said : «Our involvement in Bermuda is about sharing our knowledge of the industry with political representatives at the same time as we assess the market from our side to see how we might fit in.».

According to the Premier, local cannabis cultivation should be legalized in the coming months and the first licenses granted as early as next year. Medical cannabis is already legal in Bermuda, where doctors can theoretically prescribe cannabis for a variety of conditions, but local production is at a standstill and importation is impossible due to persistent legal barriers. As a result, patients have no access to medicines.

In addition to supplying the domestic market, Bermuda could eventually export its cannabis to neighboring markets. In this way, they could benefit from their proximity to Canada's legal cannabis market and Mexico, not to mention United States that could one day legalize cannabis on a federal scale.

In the Caribbean region, other territories are considering legalization or have already legalized. These include of Antigua and Barbuda where a bill to legalize both medical and recreational use has begun its legislative journey. Jamaica legalized the possession of cannabis for therapeutic use in 2015. Finally, the Cayman Islands approved the sale and import of medical cannabis in 2016.

Bermuda is also an associate member of the regional association CARICOM. The latter conducted a series of surveys in the various territories concerning the legalization of cannabis in the region. In other words, the Central and North American region seems to be the promised land of cannabis, and Bermuda could benefit from its location and climate, which are conducive to cannabis cultivation.