The Channel Island’s Economic Development Minister attended the Cannabis Europa convention in London last month. Whilst there, Senator Farnham announced their plans to take its place at the table of the growing Cannabis industry.
Senator Lyndon Farnham was accompanied by both environmental and economic officers from the island. Their aim was to stay in touch with the latest developments of the industry from around the world.
Senator Farnham was keen to highlight the possibility of Jersey eventually becoming a centre for excellence:
“Jersey offers distinct advantages over other jurisdictions to companies wishing to engage in cultivation, processing, and extraction of pharmaceutical precursors from cannabis.”
It was reported in the Jersey Evening Post that island officials had already begun vetting potential local companies, who may wish to invest in hemp and cannabis cultivation on the Channel Island.
Plants grown on the island would be specified for pharmaceutical, industrial and wellness products.
Another of the Channel Islands, Guernsey, has already began their exploration into the world of Cannabis cultivation. Celebrated Ltd, a Guernsey company was granted a license to grow the crop on the island early this year.
However, the global industry is still in its early days, and Jersey’s approach to the possibility is seen as prudent and timely.
George McBride, the founder of Europa International said:
“It is exciting to see Jersey taking such a proactive stance towards regulating medical Cannabis. Jersey has a number of competitive advantages which make it well placed to become a hub for the global Cannabis industry”.
Cannabis Europa is an international organisation that presents a consistent platform to share news and knowledge to help shape the future of medical Cannabis in Europe. The London Cannabis Europa convention took place in June, and more events are planned for North America and Madrid in the coming year.