Albania’s Parliament recently voted in favor of legalizing medical cannabis and industrial hemp production, passing the measure with a vote of 69-23. The law establishes a National Cannabis Control Agency to regulate both industries.
The law primarily concentrates on the export of medical cannabis and industrial hemp rather than developing a domestic market. To apply for licenses, applicants must possess at least three years of experience in cannabis production, own 51% of the company’s shares, and have a company capital of approximately $1 million.
Moreover, they should have a track record of engaging in cannabis plant by-product production in an Organization for Economic Cooperation and Development (OECD) nation for five years, along with holding good manufacturing practices issued by either the European Medicines Agency or the U.S. Food and Drug Administration for at least three years.
Cannabis cultivation is capped at 200 hectares nationwide, with each licensee permitted to grow a minimum of five hectares and a maximum of ten hectares. Notably, none of the existing Albanian companies meet all the criteria set by the law.
Albania’s move to legalize medical cannabis and industrial hemp production marks a significant development for the cannabis industry in the country. With a focus on export and stringent licensing criteria, the nation aims to establish itself as a player in the global cannabis market.
