Competitors from 11 countries, including India and South Africa, will start at the top roundabout on Emu Bay Road and walk to the bottom roundabout just before the bridge.

Flags for each country made by Meander Valley Primary School students will be a feature of the parade.

There are 16 teams consisting of three competitors in the Commonwealth competition.

Fly Fish Australia chairman Malcolm Cross said it was the second time Tasmania would host the event, after holding the inaugural competition in 1988.

He said teams will be split and sent separately to the set locations on the Meander River, the South Esk River and Arthurs Lakes.

Fishers will earn 100 points for every fish caught, and will earn 20 points for each centimetre of its length.

At the end of each day the teams will be ranked according to their catch.

Meander Valley Council economic development officer Craig Plaisted encouraged the community to support this world-class event.

"We are fortunate to have this opportunity," Mr Plaisted said.

"We know as Tasmanians how good the fly-fishing is here ... now the rest of the world and the rest of Australia is going to be watching and they will realise just how good it is."

Mr Plaisted said the event could increase the profile of fly-fishing tourism.

He also hoped it would increase local interest in the recreational sport.

"We may be able to recruit some locals in fly-fishing and, who knows, in 10 to 20 years there might be some of the local school kids representing Australia in the Commonwealth Games."

•Learn more about fly-fishing at a free expo to be held at Country Club Tasmania in Launceston on February 18, starting at 1pm.