Jamaica poised to become major location for investment in Medical Cannabis – Shaw

Minister of Industry, Commerce, Agriculture and Fisheries, Honourable Audley Shaw yesterday paved the way for Jamaica to play a leading role in the rapidly growing medical cannabis industry.
Minister Shaw met with representatives from the Canadian Government and the Province of Ontario as well as numerous companies and investors who shared their commitment to investing in the Jamaican Cannabis Industry.
The Minister, who has responsibility for the Cannabis Licensing Authority, is extremely pleased with the strategy of working with Health Canada to ensure that Jamaica meets all the requirements to provide value added products to the Canadian market. Mr. Shaw also met with the Ontario Cannabis Board, who will establish and operate Government-owned cannabis stores. This provided great insight into how Government can play a strong role in developing the cannabis industry.
Mr. Shaw was the guest of honour at a reception in Toronto, hosted by Timeless Herbal Care, a licensed Jamaican cultivator and processor.
According to Mr. Courtney Betty, President and CEO of Timeless Herbal Care, “Minister Shaw’s visit is truly historic and he leaves Canada with the support of both Government and the private sector to work with him in fulfilling his vision for Jamaica”. Jamaica is uniquely positioned to bring health and wellness to the world by developing one of our greatest assets, our herbal industry.
Speaking to his audience of over one hundred (100) persons, Minister Shaw emphasized that the Jamaican Government has already established the framework for the aggressive development of the Medical Cannabis Industry, with the Jamaica Cannabis Licensing Authority granting several licenses to grow and process cannabis in Jamaica.
Mr. Shaw stated that the approach is to develop the complete value-added chain associated with this dynamic industry. He said that in collaboration with the Ministry of Health in Jamaica this will include a major focus on pain relief and reduction of opioid use.
Mr. Shaw took note of earlier comments made at the reception by Professor Yasmine Hurd, a Jamaican Professor of Neuroscience, Psychiatry, Pharmacology and Systems Therapeutics at the Icahn School of Mount Sinai in New York, who noted that in the United States alone over sixty-eight thousand (68,000) persons are dying annually from drug addiction and opioids.
Minister Shaw noted that, in a short while, the global industry will reach more than US One Hundred Billion Dollars (US$100 billion) in value. He assured the audience that Jamaica is ready for global partnerships in developing the new wave of the medical cannabis industry which is focused on value-added, not smoking. Mr. Shaw said that the information garnered in these meetings will assist Jamaica in fine-tuning its own internal procedures in Jamaica with the Ministry of Health and other Government agencies.
The Minister has engaged in some fifteen (15) bilateral meetings with potential investors including tours of two cannabis facilities in Toronto -Toronto Research Chemicals and MedReleaf.
Mr. Shaw is accompanied on his visit by Mr. Lincoln Allen, CEO of the Cannabis Licensing Authority and Mr. Rick Harris, Director of Industry in the Ministry of Industry, Commerce, Agriculture and Fisheries.
Canada and Jamaica have a long history of working together and this opportunity to work together in the cannabis industry opens a world of opportunity for both countries.
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