U.S. Rep. Maria Elvira Salazar, R-Fla., the chairwoman of the U.S. House Western Hemisphere Subcommittee, recently brought out the “Innovation and Development in Ecuador (IDEA) Act.”

The South Florida congresswoman’s office offered the reasons for the proposal.

“The bill establishes a trade preference program with Ecuador, a critical partner and ally in the region. This will benefit the U.S. economy and promote development in Ecuador,” Salazar’s office noted. “Despite being one of America’s primary allies in South America, Ecuador does not have a free trade agreement with the United States. Imports from Ecuador to the United States totaled $11.04 billion in 2022 alone, making the health of the Ecuadorian economy important to U.S. interests. We must do more to strengthen this trading partnership.

“The Innovation and Development in Ecuador (IDEA) Act provides Caribbean Basin Economic Recovery Act (CBERA) benefits (duty-free entry to the United States for certain products) to Ecuador. It also confers other benefits provided under the Caribbean Basin Trade and Partnership Act (CBTPA),” her office continued. “The United States imports more than $6.17 billion in oil from Ecuador, on top of $1.68 billion in seafood, $637 million in plants, and $585 million in fruits. The extension of CBTPA benefits will bolster Ecuadorian production, reducing overall prices for certain Ecuadorian imports like tuna and roses. American consumers will benefit exponentially from increased access to Ecuadorian imports.”

Four co-sponsors, led by U.S. Rep. Adriano Espaillat, D-NY, are backing the proposal. U.S. Rep. Vern Buchanan, R-Fla., is among the co-sponsors.

“Ecuador is suffering from an unprecedented economic and security crisis,” said Salazar. “Ecuador needs a jumpstart to its economy to get back on track. My bill will give much-needed stability to one of the United States’ most critical allies in the region.”

“I am proud to co-lead the bipartisan IDEA Act, which aims to strengthen trade ties between Ecuador and the United States,” said Espaillat. “This innovative bill will help support a critical ally nation whose population is currently suffering from increased violence, poverty, and instability, which has led to mass migration of Ecuadorians to the U.S. in recent years. Our bill will help lower prices on goods from Ecuador, while also helping stem the root causes of mass migration from Ecuador by creating jobs, bolstering stability, and promoting economic growth and development in the region.”

The bill was sent to the U.S. House Ways and Means Committee. So far, there is no companion measure over in the U.S. Senate.