Former Israeli Prime Minister Ehud Barak described his country’s growing cannabis industry at the CannX International Medical Conference this week. Pointedly, he remarked that current Prime Minister Benjamin Netanyahu has a « rich track record that he doesn’t fulfill his promises » and specifically cited the slow development of cannabis regulations in Israel.
The country will hold a national election Sept. 17. News coverage hints at a tight race.
With that in mind, Barak wryly suggested that Netanyahu won’t have any employment trouble if indeed he’s ousted from office. « After we relieve Netanyahu in about a week from his post as Prime Minister, he has a lot of vacancies just waiting for him in the cannabis industry, » Barak said at the conference. (Barak is on the board of InterCure. The company recently abandoned plans for an IPO.)
« Israel probably lost between one-third and one-quarter of the global cannabis industry’s economic potential, following the regulatory delay in exporting cannabis, » he said. « However, Israel has not yet lost in the global race and I definitely believe it will become a significant player in the global industry. »