The recently approved Bill No. 26 establishes the legal framework for the production, marketing and export of hemp in Panama, the regulations seek to regulate its use for industrial purposes and other lawful uses, authorizing activities such as the cultivation, transformation and distribution of the plant and its derivatives.

The Ministry of Commerce and Industries (MICI) will be responsible for issuing authorizations for the production and processing of finished products, while the Ministry of Health will supervise their use in food for human consumption.

In coordination with the Ministry of Agricultural Development (MIDA) and the Institute of Agricultural Innovation of Panama (IDIAP), the MICI will establish rules and control mechanisms for the development of the sector. In addition, IDIAP will support producers in the research and adoption of new technologies.

The MICI highlights the potential of hemp to diversify the economy and increase the competitiveness of the country, being a key input in industries such as textiles and food. A reference case is Argentina, where the hemp and medicinal cannabis sector projects the generation of 10,000 jobs.

Finally, the MICI will coordinate the development of regulations and regulations in accordance with international trade agreements and current Panamanian legislation.