Wine Australia has announced it will invest $67.8m ($50m) to increase the global competitiveness of the Australian wine sector.

The move is part of the firm’s five-year strategic plan, which spans from 2015 to 2020.

The sectors’ free-on-board export value is reported to have increased by 39% from A$1.9bn ($1.4bn) in 2014 to A$2.65bn ($1.95bn) in 2017.

In addition, the national average wine grape purchase price has increased by 22%, from A$463 ($341) per tonne in 2014 to A$565 ($416) per tonne in 2017.

Wine Australia CEO Andreas Clark said: “Much work remains ahead to ensure that the sector is globally competitive and Wine Australia will invest A$67.8m ($50m) in an ambitious agenda for 2018–19, with the support of the Australian Government’s A$50m ($36.8m) Export and Regional Wine Support Package.

“Much work remains ahead to ensure that the sector is globally competitive.”

“We have a packed programme of activities, including significant investments in the US, which will be spearheaded by the Australian Wine Made Our Way campaign.”

As part of its plans, Wine Australia will introduce a new digital export approval system to improve the application process for wine exporters.

Other activities include an increased presence on social media and e-commerce platforms such as Tmall, WeChat and Weibo. The company will also create a new customer website and develop an Australian Wine Discovered education programme in key markets.

In addition, Wine Australia will continue to co-investment with Tourism Australia to drive international tourists to the country’s wine regions.

Wine Australia also intends to improve its relationships with research providers.