Canada’s largest business association is throwing its full weight behind the cannabis industry as businesses look to take advantage of the country’s first-mover advantage in global markets.
To realize the full business potential of the country’s marijuana industry, the Canadian Chamber of Commerce says the country must do more.
The Chamber has established the National Cannabis Working Group – comprised of leading companies like Canopy Growth and Aphria – to advocate on businesses’ behalf to improve the sector’s competitiveness.
“While Canada has a lucrative opportunity with our head start in the nascent global cannabis industry, we need a public policy environment that will help maximize the full economic potential of the sector,” group co-chair and Chamber cannabis policy lead Ryan Greer said in a news release.
Buoyed by a massive influx of capital from investors looking to cash in on the market’s potential, Canadian medical marijuana companies have invested heavily to establish beachheads in more than two dozen countries.
However, few have turned a profit so far, causing impatient capital and investor interest to shift to higher-potential companies in markets like the United States.
“Creating awareness about the opportunities that exist within the burgeoning cannabis sector both in Canada and globally is a message we are looking forward to sharing with Canadians,” said co-chair Nathan Mison, vice president at Fire & Flower Cannabis.
The working group will consist of cultivators, processors, retailers and ancillary sectors such as financial and legal services “to tackle public policy issues from all sides of this new industry.”
So far the cannabis working group is comprised of:
- Fire & Flower
- Rolling Greens
- Lift & Co.
- Cannabis Compliance Inc.
- Harvest One
- HEXO Corp
- Yardstick Testing and Training
- Deloitte Canada
- Dentons Canada LLP
- Tilray Inc.
- Clark Builders