Like many other Latin American countries, business between Paraguay and Argentina is built upon a foundation of trade agreements and treaties to strengthen economies and regional integration, and provide new investment opportunities to those interested in entering these markets. Paraguay and Argentina have a historically fruitful bilateral relationship with a common goal: bilateral cooperation and the exchange of products and human resources. Paraguay with an emerging economy and a stable political environment has been becoming an attractive economy for investors. Argentina, considered as one of the most important economies in Latin America, constitutes an attractive focus to invest for both local and foreign companies. We outline a general summary of some of the most important trade agreements and agreements between Paraguay and Argentina in order to highlight the commercial opportunities offered by the two countries in the region. Agreements promoting business between Paraguay and Argentina The Yacyreta treaty responded to the world oil crisis by encouraging Paraguay and Argentina to seek a solution for energy supply. Yacyreta Treaty The Yacyreta treaty, signed in 1973, responded to the world oil crisis by encouraging Paraguay and Argentina to seek a mutually beneficial solution for energy supply. The objective of the treaty is to manage “The hydroelectric use of the Paraná River, the improvement of navigable conditions and the mitigation of the environmental effects generated by the Project”. As a result of this agreement, the Yacyreta Bilateral Entity was created....