Malta’s medical cannabis exports will reach €1 billion by the industry’s third year of local operations, Economy Minister Chris Cardona said on Monday. 

He said that in three years' time Malta will start exporting its first medicinal cannabis products, once the €140 million Hal Far cluster of businesses is up and running. 

Dr Cardona was visiting the site ahead of the second Medical Cannabis World Forum that will be bringing together global industry experts and professionals for a three-day conference on the island starting on Tuesday.

The event is mainly focused on legislation and the regulatory framework of this emerging industry, and will bring together business leaders, policymakers, and over 100 speakers.  

Earlier this month, the first Malta Medical Cannabiz Summit drew some 1,500 attendees from across the globe.

During that event, Health Minister Chris Fearne had said that the number of Maltese patients using cannabis medication has increased fourfold in just one year.  

At present, around 400 people are using some form of cannabis-related medication in Malta, more than four times the 96 people Times of Malta reported were registered in November 2018.  

The law was amended in March last year, allowing for medicinal cannabis to be produced and even distributed in Malta.