Williams, 30, is in England's squad for Sunday's friendly with Sweden and is in line to make her 130th international appearance, surpassing Rachey Yankey on the all-time list.
The England midfielder made her international bow aged 17 and Dowie believes Williams has enough ability to represent her country for many years to come.
"Fara has consistently played for England since she was a young kid and it really is an amazing achievement to get 130 caps for your country," Dowie told Sky Sports.
"She really has cemented that position in the anchoring, holding role in the team. She's thriving off that responsibility and she's doing a similar role for Liverpool as well.
"She reads the game like no-one else I've played with. She's got a (good) left foot and right foot and is a very talented individual who's done pretty much everything you can at club level.
"I'm sure she'd love to win something now for England but what an accolade and what an achievement.
"She deserves all the acclaim and I'm sure she'll add to it because she's nowhere near retiring, so it wouldn't surprise me to see her get up near the two-hundred mark."
Striker Dowie knows Williams better than most, having played with the Londoner at Everton before the pair both joined Liverpool in 2012.
And the 26-year-old insists the former Chelsea and Charlton midfielder has an unrivalled passion for the game.
"I'm lucky enough to have played with Fara at her absolute best," Dowie said. "When we played together at Everton I think she got joint top goalscorer with me at one point.
"But playing with someone like Fara is great because she's one of the most intelligent players you could ever hope to play with.
"She sees your runs and it's nice to know (as a striker) if you make those runs you are going to get the ball off her.
"Fara's a real tactician and you can tell that she lives the game. She's very into her coaching and likes to help the younger players as well so she's very much like a coach and a player."