Immigration to Paraguay to the 2002 census, 84,2% of immigrants in Paraguay come from Brazil and Argentina. The first Europeans to arrive in what is now Paraguayan territory were Spaniards who left a palpable cultural heritage even today. The government of Carlos Antonio López was marked by a period of international openness including immigration and attracting settlers to populate the country. Geographically, Paraguay can be divided into two parts: The Chaco or Western Region, and the Eastern Region, where Asunción is located, as well as the other main cities of the country. The Chaco is the largest region by area with about 60%
Economy of Paraguay Most of Paraguay's trade takes place with Uruguay, Brazil and Argentina. In 2002 Paraguay conducted more than US$400 million in trade with Argentina and nearly US$800 million with Brazil. Paraguay is also a member of the Inter-American Development Bank, Latin American Integration Association, and Latin American Economic System and a signatory to the agreement creating the South American Community of Nations. In 2004 Paraguay signed an energy cooperation agreement with Venezuela to purchase oil and petroleum. Venezuela agreed to concessional financing that allowed Paraguay to pay over a 15-year period at a nominal interest rate. Imports totaled US$3.3 billion in