By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

A major marijuana advocate yesterday hailed as "great news" proposals by the Economic Recovery Committee to develop a legalised hemp industry for The Bahamas' own benefit.

Terry Miller, chairman of the Bahamas Cannabis Research Institute (BACARI), told Tribune Business: “BACARI sent four policy briefs to the Prime Minister about two months ago and suggested how industrial hemp, medicinal marijuana and adult-use marijuana should be legislated, but we never even got a response saying they had received it.”

He spoke out after the Government-appointed committee, in its 63-page report tabled in the House of Assembly yesterday, called for "a hybrid approach" to the marijuana issue that includes "decriminalisation for small amounts and legalisation with strict regulatory control offers".

It added that this provides The Bahamas with "an opportunity for economic growth, increased employment, increased revenue from both excise and VAT taxes and a decrease in crime as criminal elements would no longer be suppliers and distributors".

Taking up the suggestion in the House of Assembly, the Prime Minister said both the ERC and National Commission on Marijuana were united in their belief that the marijuana laws "are outdated and must change".

“The Commission recommended allowing medicinal marijuana use. The ERC has recommended the full legalisation of marijuana for medicinal, religious and recreational purposes coupled with an appropriate but nimble regulatory regime that oversees the production and manufacturing, sale, consumption,and export of marijuana," Dr Hubert Minnis said.

"The global legal cannabis market is already in the billions of dollars with significant projected growth in the years to come. We are reviewing the possible legalization of a hemp industry and will report back to the nation following greater public consultation.

"A hemp industry would include variations of cannabis low in THC. Bahamian-owned or majority Bahamian-owned companies must - and will - lead any new hemp industry in The Bahamas. Hemp is used in multiple products from clothing to building materials and even in tea bags, such as some Lipton’s tea bags. There are potentially many opportunities for creative Bahamian businesspeople to get involved in this new industry."

The ERC committee's report recommended that all Bahamas-based companies involved in the production, manufacturing, sale and export of cannabis must have a "minimum" of 50 percent Bahamian ownership.

It also called for the Government to "make Crown Land available to Bahamians to cultivate cannabis (with special provisions for small-scale farmers and the Rastafarian community), and manufacture cannabis-based products".

"The Government should avoid over-regulation of the market, which will have the effect of sustaining a black market for smaller producers or retailers who do not have the means to navigate complex bureaucracies," the ERC added.

It also urged an exemption of CBD products - hemp and hemp derivative products with minimal or no THC levels - "from the regulatory ambit, and permit their trade with minimal restriction".

In response, Mr Miller said: “Here is the most important thing I want to say to the Government: It must be done the right way. The legislation must be done properly, and two important factors must be in place. For one, legislation must be guided by standards.

"I presented to the minister of health in 2018. A team of us went to the minister of health [then Dr Duane Sand] and presented him with a document that sets out the standards for every aspect of the marijuana industry. The other important factor is that it has to be for Bahamians, and not just for certain sets of Bahamians, but for all Bahamians.”

Mr Miller, echoing the ERC report, added: "The government has to ensure that average Bahamians have a chance to participate in the legalisation of the production of marijuana and hemp in the country.

"We created a platform that the Government should have jumped on if they are really, really serious about empowering Bahamians in this industry. We created a platform called Green Alternative Investments Network Cooperative Society that will allow any Bahamian who wishes to invest in this industry to do so.

“We have no issues with the Government giving licenses to their special interest groups, once they are Bahamian, but we want to ensure that you give licenses to this platform where all Bahamians can participate in and benefit from."