Panama’s National Assembly approves bill regulating hemp, awaits President’s signature

According to a recent report published in Newsroom Panama, the plenary session of the National Assembly in Panama approved a bill that would regulate the production, marketing, and export of hemp in the country. The bill was promoted by Carlos Saldaña, deputy of the independent bench, who said the bill was developed in collaboration with different institutions through technical committees, and that the proposal would generate jobs as well as allow agriculture workers to increase their yields. The country is currently undergoing a crisis with its Social Security Fund. As a result, Hemp Today reports that the country is under severe financial pressure due to high labor informality, generous pension benefits, and economic slowdowns reducing contributions. Saldaña believes his proposal may alleviate economic woes.

The bill has been sent to Panama’s President José Raúl Mulino for either approval or veto. The country legalized medical cannabis in 2021, explains Hemp Today, but the rules finalized in August of 2022 did not explicitly permit or ban medical grade CBD, which left the cannabinoids regulatory status up to interpretation. However, it remains illegal to sell CBD over-the-counter in Panama, and recreational cannabis remains illegal there as well.