Argentina has set up a national regulatory body for the industrial and medical hemp industries, aiming to capitalize on domestic and international markets. The regulatory body Agencia Regulatoria de la Industria del Cáñamo y del Cannabis Medicinal Working Cannabis and Medicinal Cannabis Industry Regulatory Agency (ARICCAME) seeks to regulate and promote various cannabis-related industries such as medical cannabis, cannabinoids in food, cosmetics, veterinary food applications, and industrial hemp. The agency also lists its general objectives: to introduce industrial hemp and all its derivatives in Argentina, including for food, construction materials, textiles and biological materials, to promote scientific research and technological advances related to cannabinoids, and to create favorable conditions for existing industries in the country. According to the Buenos Aires-based law firm Allende & Brea, ARICCAME will also be responsible for the authorization of imports, production, domestic marketing and exports. Reuters reports that the new national institutional working group will seek to "regulate and promote" the country's burgeoning cannabis industry.