Peter Day's World of Business

Five years after Uruguay became the first country to allow the sale of recreational marijuana, what does a legal cannabis industry look like? When the small South American nation of Uruguay made it legal to grow and buy marijuana for fun, an entire industry had to start from scratch. For producers, regulators, investors, and consumers, it was a blank canvas. Now, as Canada and more and more US states follow in Uruguay’s pioneering footsteps, what can others learn from Uruguay’s approach? And as even more US states and other countries legalise the medical use of marijuana, can Uruguay, which also legalised growth for medical use, benefit from being at the vanguard of a new - and potentially huge - global industry. Presenter/Producer: Simon Maybin Picture Credit: BBC