The meeting was attended by FIFA President Gianni Infantino and South American Football Confederation (CONMEBOL) head Alejandro Domínguez.

A joint candidacy could see the tournament return to Uruguay a century on from the nation having hosted the inaugural tournament, where they beat Argentina 4-2 in Montevideo.

The significance of the centenary edition has been highlighted as a key reason for the potential award of the tournament to the joint bid.

Argentina’s President Mauricio Macri was present for the announcement, with his Uruguayan and Paraguayan counterparts Tabaré Vázquez and Horacio Cartes having also attended.

"Today we are here to ratify this commitment, we have raised the FIFA President and we will have the support of CONMEBOL, who believes that South America deserves the possibility of hosting this World Cup, because of the significance of the 100 years of this competition, first held in Uruguay," said Macri.

"This is what it seeks not only to give way to a passion shared by Argentines, Uruguayans and Paraguayans, but also serves to further consolidate and deepen ties between South American countries that are just in a great moment.

"We know the demands of FIFA; however, we are sure that together we will be able to fulfil fully.

"In the beginning we are thinking about two or three stadiums for Paraguay and Uruguay and six or eight for Argentina.”

Argentina and Uruguay had initially established a commission in November 2016 to discuss the potential for co-hosting the tournament.

Uruguay triumphed on home soil during the inaugural tournament, which featured 13 teams, in 1930, beating Argentina 4-2 in the final.

Uruguay claimed their second title 20 years later in Brazil.

Argentina, meanwhile, won the 1978 tournament, which they hosted, beating The Netherlands 3-1 in the final in Buenos Aires.

They went on to lift the World Cup trophy at the 1986 tournament in Mexico City.

Paraguay, who have never won the World Cup, have been added to the project.

The 2030 competition could become the second World Cup to feature an expanded format, with the FIFA Council agreeing to look into the prospect of growing the tournament to 40 or 48 teams from the 2026 edition.

UEFA President Aleksander Čeferin claimed earlier this year that his body "will fight" for a European host of the 2030 FIFA World Cup, expressing his support for an English or British bid to be put forward.

Under current rules, Confederations must wait until two editions after they last hosted the event to bid again.

With Russia staging the 2018 tournament, the next two editions look set to be held outside of Europe with Qatar already chosen to host in 2022.

A joint North American bid from the United States, Canada and Mexico is the overwhelming favourite for the 2026 event, but will face the challenge of Morocco.

It is also widely believed that China may attempt to land the 2030 edition, despite the current rules blocking another Asian bid before 2034.