The Federal Government has invited public comment on draft regulation amendments to the nation’s water market trading scheme.

The proposed amendment will allow for water rights commonly traded on the country’s water markets to be regulated in the same manner as agricultural commodities.

Federal Water Minister, Tony Burke, said that the amendment will allow for the best possible irrigation industry, and will give other water users greater flexibility to manage water assets.

"This initiative arose directly from consultation at the irrigation roundtable," Mr Burke said.

"We are interested in seeking views from affected stakeholders on the appropriateness and scope of the regulations."

The draft amendment is now open for public comment for a four week consultation period, closing on Friday 7 June.

For more information on the proposed amendment or to provide a submission:http://www.environment.gov.au/water/australia/coag/consultation-ris-2013.html