International Olympic Committee (IOC) President Thomas Bach confirmed the organisation will not wait until 2025 to award the 2032 Olympic and Paralympic Games and claimed Queensland's potential bid "has all the ingredients to become a successful candidature".

Bach was full of praise for the project presented by an Australian delegation, led by Queensland Premier Annastacia Palaszczuk, at a meeting in Lausanne today.

The IOC President was "even more impressed" with the plan than he had been after visiting Brisbane and the Gold Coast in May.

Bach added that the possible bid from Queensland had given the IOC further confidence that it would be able to award the 2032 Olympics and Paralympics much further in advance of the Games than for previous editions.

Under IOC reforms passed in June, a flexible timeline was installed by removing from the Olympic Charter the requirement for the host city to be elected seven years before the start of the Games.

"We had an excellent and very fruitful meeting with many questions which have been asked," Bach said.

A delegation from Australia met IOC officials, including President Thomas Bach, third from right, in Lausanne ©IOC

"I hope we could answer them in a satisfactory way so you have a sound basis to decide on whether you would like to host the 2032 Olympic and Paralympic Games.

"We have seen further progress here today when the project has been presented and we are as impressed, at least as impressed, by this as by the political and cross-party support the project enjoys.

"This is not only impressive but at this early stage, innovative, to have all parties united behind this Olympic project and behind sport in Australia.

"The Queenslanders themselves are highly supportive of the project.

"If you add to this the enthusiasm for sport, which we could experience many times, it is fair to say that this project has all the ingredients to become a successful candidature.

"The ball is in your court to digest this information and to see what it means for you and then to take a sound decision."

The meeting at Olympic House marks the latest part of a study being conducted by officials in Queensland on whether to submit a bid for the 2032 Games.

The assessment taskforce, launched at a cost of AUD$10 million (£5.6 million/$6.8 million/€6 million), will analyse possible venues, transport infrastructure, required funding and where it would come from.

It is expected to be completed by the end of this year, but Palaszczuk - who has cut her European trip short and is returning to Queensland today to help deal with bush fires in the region - is hopeful it can be concluded by the end of November.

A decision will then be taken on submitting a formal bid for the 2032 Olympics and Paralympics.

Palaszczuk said the Australian delegation - which also included Federal Member of Parliament Ted O'Brien, who represented Prime Minister Scott Morrison, and Australian Olympic Committee President John Coates - had left Lausanne "with a sense of purpose and partnership".

The Premier claimed Queensland already has 85 per cent of the required venues, including in Brisbane and Gold Coast.

Politicians are discussing potentially building a new 80,000-seater stadium in Brisbane, which could host the Opening and Closing Ceremonies, to help the bid's chances of success.

Queensland Premier Annastacia Palaszczuk led the team of Australian officials during the meeting at Olympic House ©IOC

Officials in the Australian state are set to work with the IOC's Future Host Commission, a new group to be established as part of the bidding reforms passed by the Session in June.

When asked whether there were any sticking points with the project in its current form, Bach replied "no" and urged the Australian delegation to "keep going" in the same direction.

"We cannot give a deadline [on when 2032 will be awarded] but it will be very much in the hands of you in how fast the project is developed," Bach added.

"What I can say with some confidence is that we will not wait until 2025, but we will take a decision once the projects are mature and we can have full confidence.

"I am more confident than before that this will not last until 2025."

Queensland could come up against an historic joint Pyongyang-Seoul candidature, should it choose to proceed with a bid for the 2032 Games.

India and Indonesia have also submitted official letters of interest and Shanghai has been conducting a feasibility study.