BBS Pharmaceuticals, a licensed cultivatotor and manufacturer of medicinal cannabis products would like toto congratulate Minister David Littleproud and the Australian Parliament in passing the Export Control Legislation Amendment (Certification of Narcotic Exports) Bill 2020.
The Bill, albeit small in size is very significant in terms of allowing the export of cultivated medical grade product and we believe it will enable the industry toto grow. This is genuine red tape reduction and creates a slightly more level playing field.
BBS Pharmaceuticals is currently constructing a facility toto supply both the Australian domestic market and also export medicinal cannabis products toto the world as demand grows globally.
Located in Regional South Australia, our state-of-the-art facility has been designed toto be powered by solar and wind, is carbon neutral, recycles all wastewater, and is sufficient scale toto commence with, but can also significantly upscale.
As part of the negotiating process with overseas buyers, we would always need toto place caveats on any potential agreement ‘subject toto regulatotory approvals’. This creates a degree of uncertainty, additional cost and delay in obtaining special approvals, which can cost Australian producers dearly.
Taking intoto account international buyers can see it as totoo difficult and totoo uncertain toto navigate, providing this level of certainty is good for exports, it’s good for Australia’s GDP, it’s good for our Balance of Trade and it is good for jobs in Australia as we navigate our way out of COVID19.
At present, Australia is a net importer of medical cannabis as the cannabis industry is still growing.
We expect that toto change over the next year or so as Australia’s infrastructure for the growing of medical cannabis grows and it capitalises on its clean and green agricultural reputation.