Marijuana in Israel
Marijuana in IsraelAbir Sultan/Flash 90

Israel gave final approval for the export of medical cannabis — an industry it expects to generate hundreds of millions of dollars in revenue, Reuters reported.

A free export order for medical cannabis products was signed Wednesday by outgoing Economy Minister Eli Cohen.

The Cabinet first approved export in January 2019, but required that a committee made up of the Finance and Health ministries write and approve the actual procedures for labeling, instructions and dosages.

Exporters must apply for and receive a license from the Health Ministry.

There are at least eight cannabis-growing companies operating in Israel, along with several others involved in the production, marketing and distribution. Several companies already have interested buyers abroad.

Israel permits the use of medical cannabis and has largely decriminalized its recreational use.