On Wednesday evening, the President of the Republic of Panama, Laurentino Cortizo, signed an executive decree approving Law 242, which regulates the medical use of cannabis, as well as its derivatives, in the Central American country.
“I signed the Executive Decree that governs Law 242 of 2021, which regulates the medicinal and therapeutic use of cannabis and its derivatives; one of the strongest regulations at the regional level, to allow the consumption of transformed cannabis and relieve thousands of patients, ”expressed the Panamanian president on his Twitter account.
The legalization of cannabis had been validated by President Cortizo in October 2021.
Firmé el Decreto Ejecutivo que reglamenta la Ley 242 de 2021, que regula el use medicinal y terapéutico del cannabis y sus derivados; one of the regulations more solid at regional level, to allow the consumption of cannabis processed and dar alivio to miles of patients. pic.twitter.com/353KP89gSE
—Nito Cortizo (@NitoCortizo) August 31, 2022
The presidential decree creates a regulatory framework that allows the creation of monitored and controlled access to medical cannabis and its derivatives for therapeutic, medical, veterinary, scientific and research purposes in Panama, as reported by local media. In addition, Mr. Cortizo signed a second decree that creates a national directorate for the monitoring of administrative and operational activities necessary for the implementation of Law 242.
This directorate will be attached to the Ministry of Security (Minseg) and will monitor industry-related activities through field visits. She will also ensure compliance with industry guidelines for those wishing to produce medical cannabis in Panama.
The decree authorizes the consumption of medical cannabis by people with a prescription, who will be controlled and supervised by a patient registration system.
“The goal of all of this is for Panama to have the best management model for the medical cannabis industry. Our intention is to promote in the medium and long term the establishment of local and foreign companies that will be able to supply the national market using raw materials produced in Panama,” said Mr. Cortizo.