Reports say the initiative, which aims to improve competitiveness and raise standards in the region, will be financed with the International Rugby Board.
"What will be financed by the IRB income from next year is the organisation, structuring and holding, if it is approved by the UAR board, of a regional competition with at least 10 teams," Argentina coach Marcelo Loffreda told Reuters.
"Just as there is a Super-10 in Italy, like there is a Super-12 in the southern hemisphere, we would play a Super-10 which would be regional because it would include (the national teams of) Chile and Uruguay," he said.
The plan is Argentina's answer to being the only country ranked in the world's top 10 that does not take part in an annual competition like Europe's Six Nations or the Tri-nations in the southern hemisphere.
