Morales and Perez had previously met in 2013, when the Real Madrid president invited him to visit the Santiago Bernabeu stadium, where he spoke with team legends such as the late Alfredo Di Stefano and the team's current manager, Zinedine Zidane.
The Real Madrid Foundation operates 10 football academies in Bolivia.
The five academies located in the Cochabamba region were inaugurated last June in an event attended by Morales and Real Madrid's director of institutional relations, former player Emilio Butragueño.
After that event, Morales and Butragueño took part in a football match with former players who were part of the Bolivian national team in the 1994 World Cup.