The Canadian Hemp Trade Alliance (CHTA) based in Calgary’s North East endorses the observations and recommendations of the Senate Standing Committee on Agriculture and Forestry in their report on Canada’s value-added sector.
“The untapped potential of Canada’s value-added food sector presents an opportunity to increase international and interprovincial trade, inspire innovation and break down barriers to economic growth across the country. While the food processing sector is already one of the country’s largest employers, there is plenty of room to grow.”
The specific recommendations addressing support for the development of food processing, regulatory reform, innovation, growth, competitiveness and global marketing align closely with the Canadian hemp industry’s objectives.
The CHTA’s targets for the hemp industry in the Blueprint for a Billion Dollar Industry are projecting an increase in the hemp sectors with annual economic benefits growing from $340 million in 2016 to $1 billion by 2023. In order to achieve this continuing economic growth, the CHTA thinks it’s vital for the Canadian government to address certain points identified by the Standing Committee.
The CHTA says current regulations are damaging to Canada’s hemp industry. Federal regulations are preventing the CHTA from achieving their goals. Additionally, in the White Paper co-authored by the CHTA and the Canadian Health Food Association (CHFA), two organizations called for the government to introduce Smart Regulations for CBD. According to the CHTA, new laws could positively affect developments of supplemented foods and health products containing nonintoxicating cannabinoids derived from hemp.
Click here to see more...