Israel approved the export of medical cannabis on Wednesday in what could lead to an industry boom worth many millions of dollars.

“This is a significant step for exporters and the Israeli industry, which will enable both expansion of export opportunities as well as rising employment … in the field,” said Economy Minister Eli Cohen, according to a Reuters report.

The nod from Cohen came more than a year after the cabinet had supported a new law to allow the export of medical cannabis.

The decision will go into effect in 30 days, with porters will having to apply for a license from the Health Ministry.

The economy ministry stated that 60,000 Israelis use medical cannabis.

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