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FFA chief executive James Johnson says Australia's W-League should push to become one of the world's top five women's football competitions.

As Australia begins preparation to co-host the 2023 Women's World Cup, FFA chief executive James Johnson says there is an opportunity to make the W-League one of the world's top five women's domestic competitions.

On Thursday, the FFA released its 'XI Principles' to underpin the growth and development of football in Australia, with women's football among the focuses.

While a plethora of Matildas have recently moved to Europe, Johnson said investment in the W-League could make it an attractive proposition for local and foreign players.

"Can we be a top five global league? There's a big opportunity there - you have at the moment the big European clubs that have smelled the opportunity, they are investing very heavily in women's football," Johnson told reporters on Thursday.

"So you're starting to see the movement of players - we're seeing some of our best players go to the FAWSL right now, you're seeing a drain even out of the American league, the NWSL, into England because they have the ability to buy players.

"But still, for the investment, if you want to be a top five league - it's affordable ... it's an opportunity.

"I think players would love to come to Australia because we have a fantastic country, we have the Women's World Cup."

Johnson said it was crucial that the state-based NPLW competitions continued to provide game time to W-League players outside the season, with the XI Principles emphasising their respective seasons should not coincide.

The FFA XI Principles document also included a vision for a future Women's FFA Cup.

"We want our players to play more, and there's an opportunity to play in the NPLW, there's an opportunity to play in the W-League and then for the very top players they can go on and play in other competitions around the world," Johnson said.

"How do we create contracts that allow for this? How do we create window alignment - the movement of players in windows - how do we fit the season in as it relates to what's below the W-League and what's above it? That's a big part of this discussion."