46 Investor Report Industrial Hemp Sector New Zealand ’ s New Export Opportunity 2020
6 . THE ROAD TO A MAJOR HEMP EXPORT INDUSTRY
regulation
New Zealand is in an excellent position to develop a substantial industrial hemp product export sector . In particular it has :
• Expertise in plant genetics
• Experience in development of natural health products , including functional foods and nutraceuticals ;
• History of cultivation , research , plant breeding and recently processing of industrial hemp in New Zealand ;
• Trusted country brand and ‘ green ’ reputation
• An existing industrial hemp sector which has developed rapidly since 2018 .
However , in order to leverage these advantages there must be an acceptance at government level , of the safety and value to New Zealand of industrial hemp products , which will lead to a facilitation of the industry ’ s growth .
At the forefront of these changes should be hemp regulatory framework reform , allowing industry access to the revenue streams from the whole plant .
REGULATORY FRAMEWORK REFORM FOR THE HEMP INDUSTRY As can be seen from the discussion of overseas developments in the hemp ( and cannabis ) markets arising from the liberalisation of the relevant legislation , there have been many approaches , some radical and others far more moderate . There is substantial