The mayor of Bogota, the Colombian capital, Claudia Lopez, signed has signed a cannabis agreement establishing guidelines for the awareness, promotion, and research of the medical, cosmetic, and industrial cannabis sector in Bogota. The agreement contains a comprehensive suite of reforms targeting everything from developing legitimate economic opportunities, to breaking down social stigma.
The mayor of Bogota, Claudia Lopez, signed this Tuesday, February 15, 2022, Agreement 832 of 2022, which establishes guidelines for the awareness, promotion, and research of the medical, cosmetic and industrial cannabis sector in Bogota.
The agreement, brings about long-overdue reforms which have been making headlines for some time now; all stories which we have covered here and in our companion app. Download for free: cannabis news app.
Creating a Legitimate Cannabis Economy
The agreement orders the promotion of capital generation for SMEs and MSMEs in the medical, cosmetic, and industrial cannabis sector in the city, such as seed and venture capital, among others. It also calls for the promotion of strategic alliances at the national level leading to bank-arization and access to credit for MSMEs.
Similarly, the agreement that was authored by Councilman Juan Baena, from the New Liberalism party, in its procedure in the Council of Bogota, determines that the Secretariat of Security will design and implement an awareness strategy in the Metropolitan Police of Bogota to disseminate knowledge about the legal framework and the economic and social benefits generated by the medical cannabis sector.
Clearing Up Legal Gray Areas in Cannabis
Likewise, the Secretariat of Security shall provide knowledge to the police force regarding the recognition and differentiation of legal and illegal commercial activities related to cannabis and, therefore, the different procedures that should be advanced in each case. This awareness strategy should also be advanced with the general public.
“With the approval of this project, we are taking a big step against stigmatization and false moral dilemmas that do not allow us to move forward as a society. We are giving the opportunity to the promotion of cannabis in its medicinal, cosmetic, and industrial uses”, mentioned Councilman Juan Baena when the project was approved in the Council.
After the issuance of this agreement, the District Administration, headed by the Secretary of Development, must work on the economic and skills strengthening of the sector, the generation of awareness-raising measures with citizens and law enforcement, the promotion of associativity between small and medium farmers to have the first cannabis cluster in the country, and promote research, development, and innovation for this sector.
On the other hand, the agreement also establishes that the District Health Secretariat will seek to formulate, within the framework of some of its public policies, strategies, plans, programs, and lines of research on medical cannabis in Bogota. To this end, the Health Secretariat will be able to act in coordination with different entities of the sector with the District Institute of Science, Biotechnology, and Innovation in Health.
Draft Agreement Approved
The agreement was signed this Tuesday and will come into force as of February 15 in the country’s capital. The draft agreement had been approved with 34 votes in favor and one against in the plenary session of the Council.
It is worth mentioning that this project gathered the requests of small and medium entrepreneurs, who see the need to be banked and have access to credits to strengthen their businesses. Experts assure that Colombia could be a pharmaceutical power in cannabis, surpassing the exports of cocoa, rubber, and manufactured goods.
According to figures provided by Councilman Baena and based on Fedesarrollo projections, by 2019 there were around 1,510 jobs in the country’s medical cannabis industry. By 2025 that figure could reach 12,031 jobs and by 2030 about 41,748 jobs.
Likewise, growth projections for the global legal cannabis market are projected to possibly be moving from 7% in 2018 to a 44% legal market by 2025.
“This sector will be fundamental in the process of economic reactivation of the country. But we must also overcome the dilemmas related to the plant and understand that it has medicinal properties for the cure of many diseases such as arthritis, epilepsy, HIV, chronic pain, and Alzheimer’s, among others,” said the lobbyist in recent days, when the project passed to the sanction of Mayor Claudia Lopez.
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