Hemp legalization will bring many benefits to Mexico’s economy

Cannabis legalization has become a hot topic in Mexico, after its president asked the senate to push forward the project as soon as possible. Now, different figures both from the industry and the government are also pointing out that hemp should also be legalized, separately from cannabis, in order to generate an atmosphere of certainty and legal viability to investors.

The Chairman of the Environment Committee called for the legalization of cannabis to take advantage of the numerous uses of industrial hemp, and products derived from it, during the virtual conference: “Industrial Hemp for Global Cooling, a Sustainable Plant with Zero Carbon Footprint.”

Furthermore, Erick Ponce, director of the Industry of Cannabis Promoter Group, indicated that Mexico can be a fundamental piece in the integration of the cannabis and hemp markets in Latin America, for which it is required to generate an atmosphere of certainty and legal viability when regulating this industry.

It is necessary for Mexico to stop importing hemp and to reach commercial agreements with the countries that have allowed the import of these products. The legalization of cannabis will generate jobs and will bring economic benefits to farmers and their communities.

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Hemp legalization must be done separately from cannabis

PVEM legislator, Raúl Bolaños-Cacho Cué, assured that the plant and its derivatives represent a large consumer market worldwide of which Mexico must be part in a legal and correctly regulated manner for all. He also emphasized that it automatically enters into the Trade Agreement Mexico, the United States, and Canada (T-MEC).

The parliamentarian has expressed it clearly: “I don’t smoke but I join. The truth is that it is urgent and necessary that we legalize hemp, which is a strain of Cannabis, and to tax it to make our field sustainable.”

He emphasized that if the country is trying to create an authentic industry of hemp with the agreements between the public and private sectors, hemp must be legislated separately from cannabis, in order to give it certainty and legal viability.

Hemp legalization will create thousand of jobs and bring many economic benefits

Senator Jesus Lucía Trasviña Waldenrath, of Morena, indicated that with the legalization of the hemp, many jobs will be generated in favor of the farmers and economic benefits for their communities. It will also bring all the beneficial products for the health of society in the treatment of chronic diseases.

“That’s why I agree that the legalization of hemp is urgent for Mexico to start promoting, from that point, a favorable economy for the poorest, for our farmers, for our areas and communities that for many years have been marginalized and in very precarious conditions,” said Trasviña Waldenrath.

“I ask my fellow senators to promote the approval of a ruling that will lead us to the regulation of Cannabis in the next Ordinary Period of Sessions that will begin next September 1,” the legislator urged.

On the other hand, Senator Miguel Angel Mancera Espinosa, of the PRD, indicated that in the Senate there has been a progressive advance, and by consensus, in the project of regulation of Cannabis on its medicinal use. Moreover, other projects have been added, where cannabis use by adults, for industrial and cosmetic purposes has already been added.

Meanwhile, Raul Elizalde Garza, president of HempsMeds Latin America, said that hemp and cannabis are very similar but not the same. “They differ mainly in their contents of psychoactive compounds and this places them in different plants, so they must be given a special and differentiated use,” he concluded.

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(Featured image by Gio Bartlett via Unsplash)

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First published in Diario Juridico, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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