Germany’s traffic light coalition has made its plans to legalise recreational cannabis official with the publication of its agreement.
The coalition of the Social Democratic Party of Germany (SPD), the Free Democratic Party (FDP) and The Greens reached the agreement to legalise the controlled distribution of cannabis to adults for “pleasure purposes” last week which has now been made official. The plan’s objective is to move consumers away from the black market, control quality and ensure the protection of minors.
Germany is already the largest market in Europe for medical cannabis, and the agreement will make the country the first in Europe to legalise recreational cannabis.
One company, Greenrise Global, which operates in the CBD wellbeing and medical cannabis markets in Germany, has welcomed the move.
“Our strategy is to be a leader in the German cannabis market and to build one of the most experienced management teams specifically to capitalise on this opportunity,” commented Dr Stefan Feuerstein, president and director of Greenrise Global. “Our executive team experience includes successfully bidding and building Germany’s first medical cultivation facility and building one of the leading medical cannabis companies.”
Hendrik Knopp, director of Greenrise Global, added: “Vision, leadership and ability to execute will define who leads in Germany. Greenrise Global was created with the vision to be a German leader.
“Our ability to import cannabis from within and outside Europe into Germany and our nationwide pharmaceutical supply and sales network in addition to our knowledge and customer base in wellbeing and medical uniquely position us to lead.”
The Institute for Competition Economics (DICE) at the Heinrich Heine University in Duesseldorf, and commissioned by the German hemp association, found that legalising cannabis could lead to additional tax revenues of more than €4.7bn per year and create roughly 27,000 new jobs.
