Last Updated on Tuesday, 10 September, 2019 at 5:14 pm by Christian Keszthelyi
The Medical Cannabiz World Asia summit is set to take place in June 2020 at the Centara Grand Hotel in Bangkok, organiser SiGMA Group has announced, according to a press statement sent to Business Malta. The Asian cannabis market is expected to be worth US$5.8b by 2024 and Thailand is thought to be among the leaders of change in medical cannabis.
The inaugural show of Medical Cannabiz World will be held in Malta in November 2019. The event in Thailand scheduled for June 2020 aims to bring together the world of medical cannabis production and distribution focussing on the “East and West igniting this new and high-growth sector”.
SiGMA Group has recently signed a Memorandum of Understanding (MoU) with Thailand’s Rangsit University, SiGMA Group hopes will help facilitate its expansion in Asia.
The Asian cannabis market is expected to be worth US$5.8b by 2024 if both medical cannabis and recreational cannabis are legalised across a number of key markets, such as Thailand, China, India, and South Korea, the Asia Cannabis Report published by Prohibition Partners reveal.
The report by Prohibition Partners adds that Thailand, Singapore and China are all pursuing research into the healthcare applications of cannabis. This very same report says that Thailand — together with Malaysia, Sri Lanka, Singapore and South Korea — is “at the vanguard of change in the region”.
At the same time, Thailand, South Korea, Malaysia and Singapore are considered to be leading the way in regulation and legislation, although other countries such as Myanmar have softened their approach to drug crime, the report says.
“There is so much opportunity for the medical cannabis sector around the globe at the moment. As SiGMA Group expands operations from Europe to the East with both the SiGMA iGaming conference and the AIBC Summit, it makes sense to exploit the growing sector for medical cannabis businesses in the region,” said Eman Pulis, SiGMA Group founder and CEO.