Six weeks ago the cultivation, processing, merchandising and import/export of medical cannabis was regulated in Mexico, making the country one of the largest in the world to have fully legalized medical cannabis.
We have written several blog posts (see here and here) about the new Regulations on Sanitary Control for the Production, Research and Medical Use of Cannabis and Its Pharmacological Derivatives (the “Medical Regulations”). We also conducted a webinar for interested parties (replay here) that was so popular we are conducting a follow-up online Q&A webinar this Thursday, March 4th (register here! And be sure to submit your questions when you do.)
In advance of the next webinar and perhaps to guide or pre-empt your questions if you plan to participate, I want to highlight some of the things I think cannabis businesses interested in Mexico should be doing right now. These steps can and should be taken in advance of the Mexican government’s full implementation of the Medical Regulations, which will permit businesses to secure licenses and commence operations.
Implications of full legalization of medical cannabis
As background, Mexico’s $1.3 trillion economy is the second-largest in Latin America and 15th-largest in the world. Mexico has a population of