The consumption of cannabis in the international market has witnessed a surge over the past years. For all the Canadian cannabis license holders, the opportunity that the cannabis international market offers to them is beyond imagination. Cannabis license holders in Canada can now enjoy the benefits of this business internationally and can take their products to new customers all over the world.
However, cannabis is something that is not permitted in most of the countries and their states. Only certain countries allow the trade of cannabis which is usually restricted to medicinal purposes only. It cannot be traded like a normal commodity and faces lots of restrictions that a trader might have to face during import or export.
Countries like Australia, Columbia, Germany, Israel, and South Africa are now becoming more interested in the import and export of cannabis, but, within the legal framework and guidelines as defined by the authorities.
The North American cannabis report has revealed that the international business in North America’s legal cannabis industry will worth more than $44 billion USD by 2024 annually.
Import and Export Permits in Cannabis International Trade
The international trade of cannabis runs under the guidelines and regulation as defined by the United National Drug conventions, to which Canada is a party.
In Canada, the trading of cannabis products in and out of the country is set out by Cannabis Act and Cannabis Regulations defined by Health Canada.
Though the trade of cannabis products is high in Canada, the cannabis license holders are allowed to export or import cannabis products only if they are meant for medicinal or scientific purposes. As per the Cannabis Act and its Regulations, the import and export of cannabis for any other usage (such as distribution or sale for non-medical purposes) is strictly prohibited. All the cannabis license holders have to submit for a permit from Health Canada to import or export cannabis products.
The permit includes different documents that reveal crucial details about the cannabis products being traded and the reason for their sale or purchase. Health Canada takes many points into consideration before issuing a permit to the cannabis license holders.
- If the application for the import or export of the cannabis products are according to the provisions mentioned in the Cannabis Act
- If the import or exports of the cannabis products is for scientific and medicinal purposes
- Whether the country of final destination has issued the import permit for the cannabis product being traded
- If the application fulfills Canada’s obligation under the international trade agreement
- Whether the cannabis products being traded are unsafe for the public’s health
- Canada’s import on export policies
- If the application fulfills all the rules and regulations as defined by the Food and Drugs Act, etc.
Increase in International Trade of Cannabis in Canada
Canada has witnessed a significant increase in the amount of cannabis products being imported into the country. As per the World Health Organization (WHO) report on cannabis, in 2017, the Canadian authorities issued 17 import permits with 30.7 kg of total CBD that increased to 44.9 kg and 30 import permits in 2018.
The import and export of cannabis products in the international market is extremely high and is increasing constantly.
The number of cannabis license holders is increasing rapidly not just in Canada but in the whole world. Canadian license holders are rising above their international competitors. If the entire requirement as defined by the authorities is fulfilled, cannabis trade can be a very profitable and growing business opportunity for the Canadian cannabis license holders.
There are already many major key players in Canada who are already leading the world in cannabis industry. These firms have fulfilled and maintained the quality of their productions that has ranked them above their competitors.
Role of EU-GMP Certification
The competitors in the cannabis industry are increasing day by day. In Canada itself, there are over 400 traders that are cannabis license holders. Canada’s cannabis traders have achieved international credibility by maintaining the quality of cannabis products. EU-GMP certification has risen up as the major advantage for Canadian cannabis license holders.
Different countries are now accepting EU-GMP standards in their cannabis laws. In Canada, only a few Cannabis license holders have secured EU-GMP certification. With this certification, these traders have successfully created their brand image and credibility which has allowed them to rise above their competitors.
All those Canadian license holders who have got the EU-GMP certification have experienced leverage over their competitors and are leading the international cannabis market with the best quality of products.
How Can Cannabis Business Consultants Help in International Trade
With the increase in competition and the number of rules and regulations in the international cannabis trading business, most of the Canadian cannabis license holders are now facing difficulties in getting permits for importing and exporting these products. In addition, they are also facing difficulties to get international level quality certifications like GMP Certification Canada that could help them stand above their competitors.
This is the reason why Genesis Cannabis Solutions has come forward to help the cannabis license holders to obtain EU-GMP certification in Canada, and to offer them Cannabis Consulting that can solve their problems related to the trade of Cannabis products in the international market. These certifications would not just take your business forwards but would help you to create your brand’s credibility in the international market.
