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Greece expects big investments in the production of medical cannabis which the government hopes would add up to 1.5 billion euros ($1.67 billion) annually to state revenue, Minister for Development and Investment Adonis Georgiadis said, according to greekreporter.com.
Speaking exclusively to Greek Reporter, Georgiadis maintained that medical cannabis would be produced and sold in Greece starting in 2022.
“The goal is for Greece to become the top European country in the production of medical cannabis. Greece’s environment is friendly for this particular plant and we think we will have a natural advantage,” Georgiadis told the Greek Reporter.
Medical cannabis, also called medical marijuana, is an herbal drug derived from plants of the genus Cannabis that is used as part of the treatment for a specific symptom or disease such as cancer, chronic pain, and mental disorders.
The two major cannabinoids extracted from this plant that provide medical benefits include tetrahydrocannabinol (THC) and cannabidiol (CBD).
Medical cannabis to be sold in pharmacies
Georgiadis said a big investment by Τikun Εurope close to the city of Corinth is already complete and two more investments from companies in the U.K. and Canada are on the cards for the production of medical cannabis in Macedonia and Patra.
Tikun Europe was established in Greece in 2018 and is a subsidiary of the Israeli Tikun Olam global player in the research and development of medical cannabis products. It is the first company to have been granted a license for the cultivation, processing, and production of medical cannabis in Greece.
The Greek minister unveiled to Greek Reporter that foreigners will also be able to use medical cannabis in Greece and that they would be allowed to purchase it through pharmacies with “the only condition [being] that they have a prescription from their doctor.” In Amsterdam and other cities, on the other hand, users must attain medical marijuana at specialty stores.
Cannabis for recreation illegal in Greece
The Greek minister, nevertheless, warned that the use of cannabis for recreational purposes is still prohibited in Greece. “This is illegal and you will be arrested,” Georgiadis stressed.
He noted that he is personally against the legalization of cannabis for recreational use.
Malta became the first EU country to legalize cannabis for personal and at-home use in December.
