In 2021 the National Assembly of the Republic of Armenia adopted a package of legislative amendments, legalizing the production of industrial hemp in the RA, as well as its import, export and wholesale trade.
Since the legislative changes, the Ministry of Health of the RA has issued 5 licenses for the production of industrial hemp and 5 licenses for import, export or wholesale trade of the industrial hemp.
The mentioned activity as a type of a business activity has aroused huge interest in the Republic of Armenia and the reasons are as follows:
- An applicant is allowed to obtain the licenses mentioned above and then within a year construct and furnish the required structures, such as greenhouses, laboratories, warehouses, nurseries, seedlings, resting areas etc. Turns out an applicant is able to obtain licenses and after that, in a year make large expenses.
- Licenses are issued in 23 working days, in a relatively short period of time.
- Each applicant has the right to apply and obtain 2 different types of licenses at once.
- The state fees paid for licenses are quite low in comparison to the ones set in European countries.
At this moment the quotas of exporting CBD oil has been used up but there are still quotas of production, import and export of cannabis flowers and green mass.
A new draft of a governmental decision is being reviewed, which will grant new quotas of CBD oil export. The same draft proposes to change the provision mentioned above and require the existence of constructed structures at the moment of the process of obtaining a license.