ADMINISTRATION WANTS CHILE IN NAFTA

ADMINISTRATION WANTS CHILE IN NAFTA

The Clinton administration wants Chile to join the North American Free Trade Agreement because it would help U.S. exports and encourage the rest of Latin America to adopt open market policies, Deputy Assistant Treasury Secretary William Barreda said Wednesday.

In prepared testimony to a House subcommittee, Mr. Barreda said, ''Chile serves as a model for its neighbors showing that open markets, a strong public-sector budget discipline, and high savings lead to economic growth," Mr. Barreda said. "Chile's example sends a powerful message to other Latin American countries, one which advances United States' interests more profoundly than we can hope to achieve through other means."Chile's economy is relatively open to foreign financial institutions, he said. Still, the Nafta would guarantee U.S. firms access to the country's

financial services market, including the growing area of managing Chile's privatized pension system, he said.