Top Cannabis Investment News, Member Posts, Cannabis Investment Daily Indices and more!

1w ago Cannabis harrisbricken Views: 81

Gustavo Petro is Colombia’s next president, following his electoral win on June 19. The election of its first leftist president, together with its first Afro-Colombian vice-president, is no doubt a momentous event for Latin America’s third-most populous country. What will a Petro presidency mean for cannabis?

According to Petro’s platform, a “focus on prohibitionism … imposed upon Colombia … war against coca, poppy, and cannabis.” In his view,

This war has failed and the country needs to move towards a new paradigm that brings together the global and Latin American will towards a concerted international agenda based on human rights and the construction of peace, the economic transformation of the producing environments without criminalizing the growers, the protection of nature, regulation, the judicial subjugation of criminal organizations and the approach of consumption as a public health issue.

As presented in the platform, cannabis and coca are an “important productive sector.” Petro calls for the development of cannabis agribusiness, with a view to its development as a regulated industry. In fact, the president-elect sees cannabis as having a special place in his efforts to spur development in the Colombian countryside, promising that the cannabis value chain will receive a “special impulse” under his government. In this regard,

The production and derivatives of cannabis will have a legal framework that privileges permits and commercial technical support for producer families, ensuring that small owners and producer cooperatives participate in the market and that safe distribution for the consumer is guaranteed in marketing. consumer and an important collection of taxes for the State. In turn, spaces will be opened in international trade with a variety of derived products – medicinal, food and textiles.

The incoming Petro administration can build on the progress Colombia has made with regard to cannabis in recent years. Medical cannabis was legalized in 2016. Earlier this year, Colombia issued regulations on the import and export of cannabis products. This means that there already is a framework in place for the international trade in cannabis that Petro envisions. Efforts in the not-so-distant past to legalize adult-use cannabis ran aground in the Colombian legislature, but Petro’s Pacto Histórico is a much more present force in Congress following legislative elections in March of this year.

As the Spanish proverb goes, del dicho al hecho hay gran trecho. Only time will tell what Petro’s priorities will be once in office, and cannabis reform may ultimately take a backseat. Or it may not, with the new government taking steps to make Petro’s vision of regulated, decriminalized cannabis a reality. One thing is clear though. A majority of the Colombian electorate has indicated that it wants to try a new path. The setting appears ripe for bold moves that could firm up Colombia’s role as the leader of the Latin American cannabis industry.

Petro: Colombia’s Next President and Cannabis on Harris Bricken Sliwoski LLP.


Today's Cannabis Investment Headlines:

Log In for More
Access Over 250K+ Industry Headlines, Posts and Updates
Not a member yet?

Join AlphaMaven

The Premier Alternative Investment
Research and Due Diligence Platform for Investors

Free Membership for Qualified Investors and Industry Participants
  • Easily Customize Content to Match Your Investment Preferences
  • Breaking News 24/7/365
  • Daily Newsletter & Indices
  • Alternative Investment Listings & LeaderBoards
  • Industry Research, Due Diligence, Videos, Webinars, Events, Press Releases, Market Commentary, Newsletters, Fact Sheets, Presentations, Investment Mandates, Video PitchBooks & More!
  • Company Directory
  • Contact Directory
  • Member Posts & Publications
  • Alpha University Video Series to Expand Investor Knowledge
  • AUM Accelerator Program (designed for investment managers)
  • Over 450K+ Industry Headlines, Posts and Updates
ALL ALPHAMAVEN CONTENT IS FOR INFORMATIONAL PURPOSES ONLY. CONTENT POSTED BY MEMBERS DOES NOT NECESSARILY REFLECT THE OPINION OR BELIEFS OF ALPHAMAVEN AND HAS NOT ALWAYS BEEN INDEPENDENTLY VERIFIED BY ALPHAMAVEN. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS IS NOT A SOLICITATION FOR INVESTMENT. THE MATERIAL PROVIDED HEREIN IS FOR INFORMATIONAL PURPOSES ONLY. IT DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY INTERESTS OF ANY FUND OR ANY OTHER SECURITIES. ANY SUCH OFFERINGS CAN BE MADE ONLY IN ACCORDANCE WITH THE TERMS AND CONDITIONS SET FORTH IN THE INVESTMENT'S PRIVATE PLACEMENT MEMORANDUM. PRIOR TO INVESTING, INVESTORS ARE STRONGLY URGED TO REVIEW CAREFULLY THE PRIVATE PLACEMENT MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN), THE LIMITED PARTNERSHIP AGREEMENT AND THE SUBSCRIPTION DOCUMENTS, TO ASK SUCH QUESTIONS OF THE INVESTMENT MANAGER AS THEY DEEM APPROPRIATE, AND TO DISCUSS ANY PROSPECTIVE INVESTMENT IN THE FUND WITH THEIR LEGAL AND TAX ADVISERS IN ORDER TO MAKE AN INDEPENDENT DETERMINATION OF THE SUITABILITY AND CONSEQUENCES OF AN INVESTMENT.