((a)) ** In general** The President is authorized to negotiate agreements which provide—

((1)) that the United States shall carry out the provisions of part C of the Controlled Substances Act ( et seq.) as necessary to provide for the lawful distribution of controlled substances in the freely associated states; and

((2)) that a freely associated state which institutes and maintains a voluntary system to report annual estimates of narcotics needs to the International Narcotics Control Board, and which imposes controls on imports of narcotic drugs consistent with the Single Convention on Narcotic Drugs, 1961, shall be eligible for exports of narcotic drugs from the United States in the same manner as a country meeting the requirements of subsection (a) of section 953  of title 21.

((b)) ** Effective date** Agreements concluded pursuant to this section shall become effective pursuant to or , as may be applicable.section 1901(f)(5) of this titlesection 1931(d)(5) of this title