In South America, based on United Nations estimates, 50 to 60 percent of the total domestic and industrial water supply comes from groundwater resources. Recently, the UNESCO/OAS ISARM Americas Programme has identified a large regional aquifer system called “Amazon Transboundary Aquifer System (ATAS),” appearing to involve six countries: Bolivia, Brazil, Colombia, Ecuador, Perú and Venezuela. Initial data collected indicate the principal use of the ATAS is for human consumption, and for many communities where surface waters are polluted it may be the only source of clean water. Currently, there are no established mechanisms for ATAS regional governance and management, and there remains much uncertainty regarding not only its physical characteristics but also its socioeconomic impact on riparian communities. Purpose. The intent of this project was to identify and analyze opportunities and challenges the ATAS States face in developing a collaborative framework to govern and manage the ATAS. Additionally, an analysis was conducted for how the principles and mechanisms advanced by the International Law Commission (ILC) draft articles on the Law of Transboundary Aquifers could be employed in order to enhance and address the opportunities and challenges identified. And finally, recommendations for improving the applicability of the ILC draft articles were developed. Conclusions. Before the ILC draft articles can be successfully implemented for achieving governance and management of the ATAS, the ATAS States must reach a certain level of action, cooperation, knowledge and understanding. The ILC draft articles, thus, should provide further guidance or be complemented with guidelines to aquifer States with insufficient knowledge basis. This guidance should include information on how to undertake joint fact-finding approaches, how to develop appropriate monitoring and assessment frameworks, and emphasize the importance of coordinating surface water regimes with groundwater regimes.