Medical cannabis, a «great opportunity for Ecuador».»

The consequences of the COVID-19 pandemic will force countries to find new ways to relieve the economy. Like in Costa Rica, One of the options of interest to Ecuador is the medical cannabis and hemp industry.

Ecuador's Minister of Production and Foreign Trade, Iván Ontaneda, posted on his Twitter account that medical cannabis would be «a great opportunity for Ecuador», with several thousand jobs and dollars at stake.

Responding to a tweet from an Internet user, he wrote «I agree with you, the medical and industrial cannabis industry is a great opportunity for the country, it will generate thousands of jobs and dollars».

Estoy de acuerdo con ud, la industria medicinal e industrial de cannabis es una gran oportunidad para el País, generará miles de empleos y dólares. https://t.co/AvwIzV4GVv

- Iván Ontaneda Berrú (@IvanOntanedaB) May 12, 2020

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Medical cannabis in Ecuador

Ecuador technically legalized medical cannabis last year. The reforms were published in the official register on December 24, 2019, but the Ministries of Agriculture and Health have been given six months to issue regulations on cannabis production and dispensing. The new regulations will come into effect on June 24, and will be jointly governed by the aforementioned ministries, the Technical Secretariat for Drugs, the Secretaría Técnica de Drogas, having been removed on April 24, 2018.

The future law will decriminalize the possession of cannabis when used for medical purposes and justified by a professional diagnosis. However, the cultivation and sale of cannabis would be prohibited, except for pharmaceutical products. In parallel, law introduces cannabis at -1% THC controlled plants.