Jersey Aims to be a Centre for Excellence in the Global Cannabis Industry
The Economic Development Minister for Jersey, Senator Lyndon Farnham, attended Cannabis Europa this June alongside environmental and economic officers from the island.
The reason for the visit was to ensure that Jersey stays abreast of the latest developments in this emerging industry, and to signal that Jersey intends to take its place at the table as a serious contender in the sector.
“Jersey offers distinct advantages over other jurisdictions to companies wishing to engage in cultivation, processing, and extraction of pharmaceutical precursors from cannabis. We wish to position ourselves as a centre of excellence in production, research, genetics and intellectual property in the sector, and attending events like Cannabis Europa gives the perfect opportunity to network and also to make our intentions known.”
The Jersey Evening Post reported that officials have already begun the process of vetting local companies who wish to produce hemp and cannabis for pharmaceutical, industrial and wellness industries.
George McBride, co-founder and CEO of both Hanway Associates and Cannabis Europa said that, “it is exciting to see Jersey taking such a proactive stance towards regulating medical cannabis.”
He agreed with the assessment that the island’s move to enter the market early is a prudent one, saying, “Jersey has a number of competitive advantages which make it well placed to become a hub for the global cannabis industry.”
For more insights and advice in international cannabis policy developments, please get in touch at info@hanwayassociates.com.