It comes as independent Lake Macquarie MP Greg Piper prepares to move a private members bill in state parliament to dismantle port commitment deeds constraining the development of a Newcastle facility.

If passed, the 'Port of Newcastle Extinguishment of Liability Bill 2022' would effectively remove the deeds which the state government entered into as part of the privatisation of Port Botany and Port Kembla in 2013.

In addition to the Hunter's economy, a Newcastle container terminal would bring major economic benefits to agricultural producers in National Party-held seats.

But Sydney-based Liberals with links to former premiers Mike Baird and Gladys Berejiklian, are likely to oppose the removal of the deeds.

Next Wednesday's meeting is the first indication that the government may be prepared to negotiate to allow the establishment of a Newcastle container terminal. The government is also desperate to avoid a repeat of the infamous 2020 'koala wars', which threatened to tear the Coalition apart .

Nationals MPs Dave Layzell and Adam Marshall have already indicated they will consider crossing the floor of parliament to support the establishment of a container terminal.

Speaking in Singleton on Thursday, Mr Toole said the Coalition would discuss Mr Piper's proposal following the meeting with the port.

"It's something we need to sit down and discuss once we have had an in depth conversation with the Port of Newcastle, knowing what they will bring to the table as well. That will give us a more in depth understanding of what it looks like. At the end of the day it's about what is good for regional and rural communities," he said.

Business Hunter chief executive Bob Hawes said the proposed bill would help level the playing field and allow the market to determine where efficiencies and cost savings lie in container trade along the east coast.

"Local businesses are experiencing pressure from significant delays and sharp increases in freight costs, which ultimately dampen economic growth. Unlocking the container capabilities at Newcastle broadens choice for businesses importing and exporting freight, potentially unlocking significant benefits across the Hunter and the state" Mr Hawes said.

A Productivity Commission draft report published last month - Lifting productivity at Australia's container ports, revealed higher productivity at Australia's container ports is achievable and would deliver significant benefits. The report noted "inefficiencies at Australia's major container ports directly cost the Australian economy an estimated $605 million a year, and lack of competition in some parts of the maritime logistics system, including container terminal services, means consumers pay too much".

Mr Hawes said the report details that $316 million of this estimated cost is attributable to Sydney, which is the likely import and export point for many regional businesses.

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