Thailand is slowly building up to medical marijuana legalization with their newest draft of the the narcotics code. If the draft receives approval from the Thai government, the country would permit medical marijuana research to be conducted on humans.

Currently, Thai law allows for the cultivation and harvesting of cannabis for medical purposes, but does not condone human research. The draft legislation seeks to enact human testing as well as improve Thailand's cannabis production infrastructure.

Dr. Sophon Mekthon, chairman of the Government Pharmaceutical Organization, says that separate panels will be established to oversee specific issues. Primary areas of focus will be improving cultivation and medical extraction techniques, as well as establishing methods for medical use of cannabis and developing regulation for cannabis research.

As vice president of Thai Cannabis Corp, Jim Pamondon says these new regulations could have positive impacts on international cannabis companies. Moving certain operations to Thailand could lead to potential savings down the line.

"Any company that is participating in the global cannabis industry should consider being among the first to move the least-profitable links in its global supply chain to Thailand," he said.

Hopefully these changes also lead to some cost savings for Thai companies as well, so Bangkok doesn't have to be one of the cities with highest weed prices in the world anymore.