Innovative Asian companies to attend Istanbul summit

By Tolga Yanik

ISTANBUL (AA) - Turkey is set to host Business Meeting ASIA 2019 Istanbul Summit, which will bring innovative Asian companies together with the Turkish business circles in machinery, automotive, automation and defense fields.

Teknopark Istanbul -- the host of the summit -- released a statement on Monday saying that the event will be held in cooperation with Asian Science Park Association (ASPA) on Oct. 8.

"We are proud to organize the summit which will bring an opportunity for Turkish companies in exchanging ideas and experiences with Asian counterparts in areas such as automotive, artificial intelligence and defense," said Bilal Topcu, head of Teknopark Istanbul.

He added the event is considered as an important step to open up national technologies to global markets.

Introducing innovative technologies to the world, Asian companies lead the world not only in automotive, but also in robotics automation technology.

Asia's share in robotics automation tech is expected to hit a total value of $55 billion in 2021.

A report released by one of the U.K.'s four biggest auditing firms, KPMG, indicated that automotive production has shifted from Europe and the U.S. to Asia in the last ten years.

According to the report, the share of America's production in automotive before the crisis in 2007, which was 26.1%, decreased to 21.2% in 2017, while that of Europe fell to 22.3% from 31.2%.

As for Asia, its share in the 10-year period increased from 41.9% to 55%.

Turkey is in the center of attention of Asian companies in developing big data, artificial intelligence, simulation, drones and automotive supply industry products.

*Writing by Aysu Bicer