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Both players were in action for their country when they hosted and won the 2015 Copa America championship for the first time, defeating Argentina 4-1 on penalties.
Also out of the team are England international, Danny Welbeck and Tomas Rosicky due to inury yet to be fully recovered from.
"Calum [Chambers] has decided to shorten his holiday and come back on Friday, he didn’t play in the under-21s and needs preparations," Wenger told the club's official website.
"Welbeck isn't completely recovered from the problem he had [at the end of last season]. He's not back in full training so he will stay behind.
"Rosicky will stay back because he got a small injury at his last game against Iceland with Czech Republic.
"Ospina is on holiday until July 27 and Alexis is on holiday until August 3. Serge Gnabry is on holiday after playing with the under-21s. He's back on July 20."
Squad in full:
Goalkeepers: Petr Cech, Emiliano Martinez, Wojciech Szczesny
Defenders: Hector Bellerin, Calum Chambers, Mathieu Debuchy, Gabriel, Kieran Gibbs, Laurent Koscielny, Per Mertesacker, Nacho Monreal
Midfielders: Mikel Arteta, Santi Cazorla, Francis Coquelin, Dan Crowley, Mathieu Flamini, Alex Iwobi, Alex Oxlade-Chamberlain, Mesut Ozil, Aaron Ramsey, Jeff Reine-Adelaide, Chris Willock, Jack Wilshere, Gedion Zelalem
Forwards: Chuba Akpom, Olivier Giroud, Theo Walcott Goal