The Bahamas is awaiting the completion of studies and consensus from the Caribbean Community (CARICOM) before tackling the issue of legalising marijuana just days after another Caribbean country revealed plans to decriminalise its use by the end of the year.

Jamaica will this year join a virtual tidal wave of countries across the globe in decriminalising marijuana, the forerunner to the establishment of a medicinal marijuana industry estimated to be worth billions of dollars.

In a press statement issued Tuesday Foreign Affairs Minister Fred Mitchell said The Bahamas was present at the table in Trinidad when the issue was raised with regard to medical marijuana at the CARICOM meeting and it was agreed that the issue should be studied then and signed off on the matter in Guyana last month as an agenda item at the next CARICOM heads meeting in St. Vincent in March.

“We have heard the views on a market approach to fighting anti-drug efforts advanced by many countries,” Mr. Mitchell said.

“We note the developments in the United States and have canvassed the potential policy changes with United States officials.

We can say nothing more on the issue until such time as the CARICOM consensus has been reached and the studies returned and The Bahamas Cabinet has a chance to review the issue.”

Legalisation or decriminalisation of the weed has been sweeping the globe, led by the United States where Colorado, followed by Washington State, has demonstrated the earning power of marijuana.

America’s tax take has already been put at an estimated $100 million a year.

Jamaica’s Cannabis Commercial and Medicinal Research Task force comprises the Ganja Law Reform Coalition, the National Alliance for the Legalisation of Ganja and several members of civil society.