RICHMOND, VA—Virginia Gov. Terry McAuliffe announced on Wednesday the launch of the Virginia International Trade Alliance geared to growing the Commonwealth's foreign trade business.

The alliance, which will be managed by the Virginia Economic Development Partnership, will look to expand Virginia's trade program via formal partnerships with Virginia's public universities, industry associations and the Virginia Chamber of Commerce. Virginia is looking to build on its export business that totaled $36 billion in manufactured goods and services last year.

"As we continue to recruit new businesses to the Commonwealth, we also need to help our existing businesses export their goods and services. International trade is a key part of my plan to create private sector jobs and build a new Virginia economy that is less reliant on the federal government," the governor said.

The alliance will provide tailored market research, face-to-face meetings with qualified partners overseas, and access to Virginia Economic Development Partnership's Virginia Leaders in Export Trade (VALET) program. In 2014-2015, VEDP International Trade took 176 companies on trade missions across the globe to find customers in new international markets. Gov. McAuliffe has made the program a priority and reallocated $1 million toward the initiative in the state budget.

Partners in the new alliance are: the Virginia Chamber of Commerce, the Virginia Manufacturers Association, the Virginia Maritime Association, the Northern Virginia Technology Council, Christopher Newport University, William & Mary, James Madison University, George Mason University, Old Dominion University, University of Mary Washington, Virginia Commonwealth University, the Virginia Military Institute and Virginia Tech.

Among its initial goals, the alliance hopes to grow Virginia exports by $1.6 billion in five years and create 14,000 trade-supported jobs in five years.