It may sound unbelievable, but Malta is quickly becoming the European capital for medical cannabis.
In just months, Malta legalised the use of medical cannabis, as well as legalising the manufacturing of medical cannabis on the island. Maltese patients are accessing medical cannabis for the first time in the country’s history, and entrepreneurs from around the world are eyeing Malta and its market potential.
As the Maltese government steams ahead with legislation that puts Malta ahead of the international curve in the cannabis industry – as well as creating an attractive and fair framework for global multi-million companies to set up shop here – Malta’s newest, and potentially most lucrative, industry is well on its way.
If you are looking for proof of Malta’s emerging position as Europe’s medical cannabis capital, look no further than the upcoming Medical Cannabis World Forum, which will feature presentations from international speakers from within the industry as well as Malta’s own political leaders.
Lovin Malta spoke to one of the forum organisers ahead of the conference to see exactly what changes are happening in Malta, and where the country goes from here.
“Malta is quickly becoming Europe’s capital for medical cannabis as top global leaders are coming to Malta to set up operations here”
Nicholas Spiteri, director of Medical Cannabis World Forum, said it’s no surprise that Malta already has a leading position in the European industry.
“Malta has a well established pharmaceutical industry, and the required HR skill-set which will allow these companies to set up and start operations quickly,” Spiteri said. “From a regulator standpoint, the Medicines Authority has a formidable international reputation with regards to upholding high EU GMP standards, which will ensure that quality of products manufactured in Malta are of the highest standard.”
Apart from Malta’s positive international reputation in the pharma industry, its progressive legislation gives companies the peace of mind to invest in the island
“The legislation which was enacted this year is a major element attracting these companies to Malta,” Nicholas continued. “It offers these companies a clear and practical legal framework, allowing them to operate within the European Union, which is set to become the biggest medical cannabis market in the world.”
He also noted that many major companies, like Aphria and Aurora, have already set up shop locally
“Some of the companies that have already publicly communicated their setting up in Malta, such as Aphria and Aurora, are listed companies in the New York and Toronto stock exchanges, and are worth billions of dollars,” he noted.
And the industry is only picking up speed
“As new medical cannabis markets open up – the UK opened up just last week – the demand for GMP products will continue to increase with the value of the European market set to be worth 35 billion euros annually in a few years,” he said.
The demand to be involved in the Maltese cannabis industry is showing – the €500 two day pass to the WMCF, which included two networking dinners for industry leaders, have already sold out. However, a limited number of day tickets going for €90 each are still available by following this link.
As Malta consolidates its position as a global centre of excellence in medical cannabis, the next few months and years are set to be a historic time for the European global cannabis industry – with Malta right at its centre.