Macri said in a press conference that Argentina and Colombia have had a "sports cooperation" for "years" and highlighted that hosting the Copa America 2020 will be "an unprecedented experience and really very stimulating."
"We are very happy to share this responsibility. It's never happened before and I'm sure it's going to be a positive experience and it's going to bring us closer and help us get to know each other even more," he added.
The 2020 Copa America, which will take place between June and July, will be the first to be played in two countries simultaneously.
Duque agreed with Macri and stated that both countries have a "magnificent sporting cooperation that has been going on for many years".
"In the 1940s there was a strike of footballers in Argentina. That led many of those figures to go to Colombia and help transform football in its time. Now we can say that in an unprecedented event we are going to organize the Copa America 2020 jointly," he said.
Colombia's president is in Argentina on his first state visit to the southern country.