Innovation and Development in Ecuador Act of 2023

This bill adds Ecuador to the list of countries eligible for trade benefits under the Caribbean Basin Economic Recovery Act (CBERA), specifically designating it as a "CBTPA beneficiary country" for preferential tariff treatment. It requires the President to issue a formal proclamation designating Ecuador as such within 90 days of the bill's enactment. The change would allow Ecuadorian goods to enter the U.S. with reduced or eliminated tariffs under the CBERA framework, directly affecting Ecuador's exporters and U.S. importers of Ecuadorian products. This is a procedural adjustment to existing trade law, not a new policy.