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Colombia plans to be a big player in the global marijuana market -- and it's all legal

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The nation of Colombia was once a major source of marijuana and cocaine being smuggled into the United States.

Now, some Colombian corporations are looking to enter the global marijuana industry. And it's all legal.

Colombian President Juan Manuel Santos overhauled 30-year-old drug laws to make medical marijuana legal in his nation last year.

One company expects to be managing 600 acres of marijuana plants in two years, and they expect to produce a gram of marijuana for just five cents. That financial model could make Colombia a huge player in this emerging global market.

Here's what one Twitter user thought about the medical marijuana movement. 

At least three companies have permission from Colombia's government to grow pot for export to Canada, U.S. states and anywhere pot is legal.

The new law allows the companies to grow and export all kinds of marijuana products, including oils, edibles and topical creams.

Marijuana in flower form will not be allowed to be exported for the moment -- meaning no joints will be rolled with Colombian medical cannabis.

Officials hope this will slow Colombia's drug trafficking problem by creating a legal opportunity for medical marijuana to circulate. 

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