Thailand's Public Health Ministry confirmed Monday that it has signed a Memorandum of Understanding with RxLeaf World Medica to establish an International Medical Cannabis Research Center.
The latest move is a part of Thailand's plan to become a world-class cannabis production and development hub. The center aims to be a knowledge center for genetic research on medical cannabis, bringing together doctors, researchers and experts from Canada, the Netherlands and other countries to conduct product research and development while at the same time exchanging medical marijuana knowledge.
Anutin Charnvirakul, deputy Prime Minister of Thailand and Minister of Public Health, said the ministry has already been promoting medical cannabis and its safe treatment. According to the study, cannabis can help manage symptoms of various diseases such as cancer, epilepsy, multiple sclerosis with muscle pain and neuralgia.
Thailand’s Economic Recovery, One Of The Center’s Purposes
Minister Charnvirakul acknowledged the COVID-19 pandemic has negatively affected the Thai economy and to alleviate the situation, economic reform and new opportunities are required. The center is one of the catalysts to support economic recovery. This also conforms to the Thai government's plans to promote the country as a comprehensive medical hub in Asia as well as to encourage development of the cannabis value chain, including product cultivation, standardization, market expansion and support for investment in new products.
The medical industry is a key prospect for economic reform due to its global valuation at $8.3 trillion, while the legalized cannabis market is at approximately $12.5 billion (source from World Health Organization and Prohibition Partners). Therefore, this is a tremendous opportunity for a country like Thailand, which has both the personnel, physical capability and potential to accept this challenge, the public health minister noted.
Photo: Courtesy of Mathew Schwartz on Unsplash
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