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Two businesses – a single from Uruguay and a single from Colombia – will quickly turn into the initially in Latin America to legally export healthcare marijuana goods to Europe below bargains announced Wednesday.

Fotmer Life Sciences of Uruguay and Clever Leaves of Colombia will export cannabis extract and dried marijuana flowers to Germany, reports the Related Press. According to the firm, Germany is the biggest industry for the medicine in Europe, with an estimated 700,000 individuals employing medicinal goods derived from marijuana.

Uruguay in December 2013 became the initially nation in the globe to legalize a national cannabis industry from increasing to obtain for private use, and the government later legalized the export of healthcare marijuana goods to nations exactly where it is legal, a move that has brought a wave of investment. Colombia, which has decriminalized pot use, legalized healthcare marijuana goods. The announcements of the bargains did not present a dollar figure or begin date.

“This puts Uruguay on the globe map” of pharmaceutical cannabis, mentioned Fotmer CEO Jordan Lewis, an American who moved to Uruguay to participate in the cannabis business following its legalization.

In a press statement from Germany, Clever Leaves CEO Andrés Fajardo mentioned the export deal shows “that the Colombian industry can attain international requirements and generate higher high-quality medicinal cannabis.”

The German business that will import the goods, Cansativa GmbH, mentioned it is the initially time a European business is getting medicinal cannabis from Latin America. Benedikt Sons, co-founder and director of Cansativa, mentioned in a statement the trade with Latin America will assure far better costs in Germany by expanding sources of provide beyond the Netherlands and Canada.

Fotmer, primarily based in the compact town of Nueva Helvecia, employs 80 individuals and is investing $7 million in laboratories and 10 tons of marijuana crops for the export industry. It sells dried cannabis flowers.

Clever Leaves produces extracts oil from marijuana flowers that is utilized in tablets, creams, ointments, patches and other goods for the remedy of epilepsy and chronic discomfort, amongst other makes use of. It plans to generate 32 tons of dried marijuana flowers this year and boost that to 85 tons by 2020.

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