Mexico’s lower house of Congress approved a bill this week that would decriminalize cannabis for recreational, medical and scientific uses.

The bill, which has the support of Mexican President Andres Manuel Lopez Obrador, was approved by lawmakers on Wednesday with 316 votes in favor and 127 against.

Now, the Senate needs to review and approve the bill. If the Senate passes the law it would create a tremendously huge market.

If passed, the law would create a huge market, which foreign companies are eager to tap.

The bill would also allow five types of licenses for the cultivation, transformation, sale, research and export or import of marijuana.

Only people 18 years and older, and with a permit, would be able to grow, carry or consume marijuana and its derivatives.

“Today we are making history,” remarked Simey Olvera, a lawmaker from Lopez Obrador’s ruling Morena party.

“With this, the false belief that cannabis forms part of Mexico’s serious health problems is left behind.”

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