The term BRAZ. NEIGHBOR refers to the three countries that border Brazil: Uruguay (URU), Bolivia (BOL), and Argentina (ARG). Uruguay is a small country located in South America, bordered by Brazil to the north and Argentina to the west and south. Bolivia is a landlocked country in central South America, bordered by Brazil to the north and east, Paraguay to the southeast, and Argentina and Chile to the south and west. Argentina is a large country located in South America, bordered by Bolivia and Paraguay to the north, Brazil to the northeast, and Uruguay to the east.