Asian companies looking for cooperation opportunities in Turkey, especially in the automotive and defense industries, will meet Turkish companies at the Business Meeting ASIA 2019 Istanbul summit.

The summit, hosted by Teknopark Istanbul and organized by the Asian Science Park Association (ASPA), will kick off today, a statement by Teknopark Istanbul said yesterday.

Within the scope of the program, Asian companies will also pay a technical visit to Teknopark Istanbul, the research and development (R&D) center of the Turkish defense industry, and come together with local and foreign companies conducting R&D studies in the automotive sector.

Asian companies continue to introduce innovative technologies in the automotive sector and lead the world in many other sectors, including robotic automation technology, which is expected to reach a market valuation of $55 billion by 2021.

Turkey is also at the center of attention of Asian companies that have recently developed big data, artificial intelligence (AI), simulation, system integration, digital twin solutions, unarmed aerial vehicles and automotive sub-industry products.

According to a KPMG Sectoral Overview report for 2019, covering the automotive sector, automotive production has shifted from Europe and the U.S. to Asia in the last decade.

According to the report, the U.S.'s share decreased to 21.2% in 2017 from 26.1% before the 2007 crisis. Meanwhile, Europe's share dropped from 31.2% to 22.28%. In comparison, Asia's share in the last 10 years rose from 41.9% to 55%.

Bilal Topçu, General Manager of Teknopark Istanbul, said they were proud to host the summit, which will bring together the innovative companies in the Asian market with the brands in Turkey, organized industrial zone (OIZ) representatives, universities and entrepreneurs.

Topçu said they took an important step in opening Turkey's national technologies to the global markets. "At this summit, our companies will explain their activities to Asian companies and will sign up for collaborations that will add value to Turkey's technology exports," he added.