The meeting will be chaired by the federal parliamentary secretary on water Malcolm Turnbull.
The Snowy Hydro scheme, water recycling and managing water supplies are all expected to be on the meeting agenda.
The gathering comes after the release of a report by the Productivity Commission yesterday which was critical of the federal government's approach to improving the flow of the Murray-Darling River.
The commission's report claims the government's decision to focus on improving infrastructure like pipelines and canals is flawed.
Instead, the commission has called on the government to remove regulatory restrictions on the water industry including allowing mining and power generation companies to invest in the water market.
It says this would help governments combat problems like salinity and poor river flows.