Israeli Cabinet approves medical marijuana exports The Israeli Cabinet has approved a law permitting the export of medical marijuana, a move the government expects will catapult investment in local industry and agriculture

JERUSALEM -- Israel has given final approval to a law permitting the export of medical marijuana, a move the government expects will catapult investment in local industry and agriculture.

The Cabinet's decision Sunday came a month after the Israeli parliament unanimously approved the decision, making Israel the third country in the world, after the Netherlands and Canada, to allow export of medical cannabis products.

Israel is home to dozens of companies active in the medical marijuana industry, and approved companies will be able to export to countries where it is legal.

The law has been in the works for years, but had long been stymied by concerns from security agencies over marijuana leaking to the black market. Lawmakers eventually compromised to grant Israeli police oversight of the industry.