Cannabis Policy Modernization Measure Expected In Slovenia By End Of Year
According to Dr. Metka Paragi, a leading international microbiologist who currently serves as the Secretary for Health in the Cabinet of the Prime Minister of the Republic of Slovenia, lawmakers will introduce a cannabis policy reform measure in the Central European nation by the end of this year.
Dr. Paragi made the announcement at the recent International Cannabis Business Conference held in Bled Slovenia on September 13th, 2024. Earlier this year voters in Slovenia approved two cannabis referendum measures – one focusing on personal adult use decriminalization and another dealing with medical cannabis.
“We fulfill our promise with full responsibility and prepare modern European legislation that will give our citizens access to safe and professionally supported hemp products for health and well-being,” Dr. Paragi stated according to local reporting by N1 SLO. “The current Slovenian legislation allows the use of hemp products for medical purposes, but it has never really taken off. In practice, this manifests itself to a very limited extent and with many obstacles.”
Currently, cannabis is legal for adult use in Uruguay, Canada, Malta, Luxembourg, Germany, and South Africa. Recreational pilot trials are also in operation in a limited number of jurisdictions in the Netherlands and Switzerland. Cannabis is also legal for adult use in two dozen states in the U.S. as well as in Washington D.C. Medical cannabis laws have been adopted by at least 57 countries around the world.
Slovenia is uniquely positioned to fill a substantial void in the international cannabis industry’s research and development sector. Slovenia is already a top global hub for research and development efforts for other large industries, including the pharmaceutical industry, and the nation’s university facilities and leading researchers could develop cannabis products and delivery methods that would revolutionize the cannabis space.
“We should not underestimate how valuable a niche this activity can be for Slovenia,” said International Cannabis Business Conference co-founder and Executive Producer Alex Rogers. The International Cannabis Business Conference event held days ago in Bled was focused on emerging cannabis science and technology.
“In conjunction with the European elections on June 9, Slovenia also held three consultative referendums, including on cannabis. 66.71 percent voted for the cultivation and processing of cannabis for medical purposes, and 51.57 percent of the voters who submitted a valid ballot voted for the cultivation and possession of cannabis for limited personal use.” reported N1 SLO in its coverage.
The legal global cannabis industry is set for significant expansion in the coming years according to a recent market analysis by Skyquest Technology Consulting. The market researchers are projecting that the regulated worldwide cannabis market will surpass $148.4 billion in value by 2031.
“Cannabis market was valued at USD 36.4 Billion in 2022 and is poised to grow from USD 42.6 Billion in 2023 to USD 148.4 Billion by 2031, growing at a CAGR of 16.9% during the forecast period (2024-2031).” the company stated in a press release.
Suffering patients in Slovenia deserve to have safe access to medical cannabis therapies if their doctor deems it appropriate, just as they do in every other country around the world. Additionally, taxpayers in Slovenia deserve to not have precious public resources wasted on enforcing failed cannabis prohibition policies on consumers, and decriminalization is warranted.
Entrepreneurs and innovators in Slovenia should have the right to gain their share of the next great industry and to compete with other markets on a level playing field, which would, in turn, provide a major boost to Slovenia’s economy. Cannabis policy modernization in Slovenia is a win-win situation, and hopefully lawmakers recognize that as the political process moves along.