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Mexico Cannabis Legalization is Postponed (And That’s OK)

The Lower Chamber has deferred discussion of the Cannabis Law bill to next year and has asked the Mexican Supreme Court for an extension of the previous December 15 deadline to implement legalization. The Supreme Court granted the extension to April 2021, citing COVID and “giving Congress due time to exercise its powers” as causes. There are five reasons why this decision may be a blessing in disguise: 1. The debate in the Lower Chamber still promises to revolve around amendments and new proposals to be included in the bill; 2. The Cannabis Law itself will be under discussion in the Lower Chamber; 3. The longer it takes Congress to legalize cannabis, the longer it stays unregulated and so the more time companies have to apply for licenses; 4. It is possible that the Mexican government decides to publish the medical regulations earlier and separately; and 5. Mexico has competitive advantages over other more developed economies when it comes to the development and manufacturing of pharmaceutical products.

 

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Posted Under: Mexico

Post By Ken Shafton (887 Posts)