LISBON, Portugal — The leaders of the Spanish and Portuguese football federations agreed Monday to make a joint bid to host the 2018 World Cup.

Spanish federation president Angel Maria Villar and Portuguese counterpart Gilberto Madail signed the agreement after a meeting in Lisbon.

"This is an important day, the day we decide to go ahead and present a bid to FIFA," Madail said.

Madail declined to provide details of the bid, saying the Iberian neighbors are forming a joint committee to flesh out the project and register their interest with FIFA ahead of the body's Feb. 2 deadline.

Spain hosted the World Cup in 1982 and the European Championship in 1964. Portugal hosted the 2004 European Championship, beating a rival bid from Spain.

Other countries which have said they will bid to host the 2018 tournament are Australia, England, Qatar, the United States and Russia, plus a joint bid from Belgium and the Netherlands. Other bids are expected from China, Japan, Mexico and Canada.

FIFA has said it will undertake a two-year process which will examine bids for both the 2018 and 2022 tournaments. The hosts will be chosen by FIFA's 24-man executive committee in December 2010.

Candidates must provide about 12 stadiums holding at least 40,000 fans for group matches, with one stadium of at least 80,000 to stage the opening match and final.

Spain, whose population is roughly five times larger than Portugal and which generally has larger stadiums, is expected to host most matches under the plan.

Portugal built seven modern stadiums from scratch and renovated three others for Euro 2004. It also upgraded the country's transport infrastructure.

Benfica's Stadium of Light is Portugal's biggest venue, with a 62,000 capacity for international games. Sporting Lisbon's Jose Alvalade Stadium and FC Porto's Stadium of the Dragon each hold 52,000.