Market Date:24 February, 2020

Bahamas “sitting” about $1 billion cannabis sector

Billing the nation’s potential cannabis sector as a “billion dollar” company, Progressive Liberal Party (PLP) Deputy Leader Chester Cooper explained the country continues to lose out on the significant stimulation of a regulated sector to nations including Canada and the USA.

Addressing PLPs in the party’s headquarters on Farrington Road,” Cooper stated a PLP-administration, once chosen, would be directed on the problem, such as others facing the country, by study, specialists and public opinion, rather than any 1 perspective, including his very own.

“When we talk about legalizing cannabis we are not going to have the business people like me in the room who truly believes this is a billion dollar industry and we are sitting on our hands while the Americans and the Canadians take advantage of it, but I am not going to impose my business view,” stated the Exuma and Ragged Island MP, that has been outspoken of his support to the laws of medical cannabis and also to decriminalize modest amounts of recreational marijuana.

From the northern hemisphere, Uruguay and Canada have completely legalized cannabis.

Cooper: Bahamas “sitting” on $1 billion cannabis industry

In the USA, the marijuana is totally authorized in 10 nations and medical marijuana is legal is 33.

Based on CARICOM’s Regional Commission on Marijuana, that advocated the declassification of this plant, ” The Bahamas may see a monetary advantage of roughly $5 million by legalization domestically.

But, advocacy groups indicate the figure is nearer to more than $1 billion when believed past national usage.

As he vowed to PLPs the celebration is likely to make decisions which are reflective of the very best interest of their electorate after first listening to the Bahamian people, along with also the party’s committees,, Cooper indicated that the leadership won’t be dictatorial and enforce its own views to coverage.

“We are going to have people who are psychologists, people who are lawyers, people who are reverends,” he explained. “We are going to have a balance of our stalwarts in the room. We are going to have our young voters to ensure we have views that are representatives of the views of the Bahamian people.”

Cooper has called on the authorities to expunge the records of individuals convicted for possession of small amounts of the material; and also to get a reexamination of regulations regarding the number of this material that matches the “intent to supply” threshold.

Talking to Eyewitness News Online a week, Bahamas National Commission on Marijuana Quinn McCartney projected The Bahamas could observe some kind of law, perhaps not dissimilar to Jamaica’s heavily controlled version, in a brief time period.

He noted that the commission has taken a definitive position on marijuana usage in The Bahamas, but its own report — anticipated to be submitted to the authorities in early November — will provide the authorities selections for various versions that were regulated.

The analysis is anticipated to deal with the medical, industrial, economical, spiritual and ceremonial, and recreational use of cannabis, in addition to development and research – codifying Bahamian attitudes on plant usage.