Mr. Ali Babacan was born in 1967 in Ankara. He was graduated from TED Ankara High School in 1985, ranking first. Then in 1989 he received his B.S. degree in industrial engineering from Middle East Technical University in Ankara, ranking first again. In 1992, he received M.B.A. degree from Kellogg School of Management of Northwestern University in Illinois - USA, with majors in marketing, organizational behavior and international business. He received Fulbright Scholarship for graduate studies.
Between 1992 - 1994 he worked in Chicago in a company doing financial consulting for the top executives of the major banks in the United States. In 1994 he took the control of his family business, doing wholesale trading of textiles. Same year he became the Chief Advisor to the Mayor of Ankara, managing relations with the World Bank, Turkish Treasury, commercial banks and credit rating agencies.
In 2001 he became the Founding Member and Board Member of AK Party (Justice and Development Party). When AKP won the general elections in 2002 he was elected as an MP and appointed as the Minister of State in charge of the economy. In 2007 his party won the elections again and he became the Minister of Foreign Affairs in the Government and the Chief Negotiator for the entrance of Turkey into the European Union. After the re-structuring of the cabinet on 1st of May 2009, he became the State Minister and Deputy Prime Minister responsible for the economy, the treasury, and the banks. He continued his duty until the 64th Government founded in November 2015.
Ali Babacan is married and has two children. He speaks English fluently.