Ali Babacan

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Ali Babacan
Ali Babacan - World Economic Forum Annual Meeting 2012 crop.jpg
Babacan at the 2012 World Economic Forum annual meeting in Davos
Deputy Prime Minister Responsible for the Economy
Assumed office
1 May 2009
Serving with Cemil Çiçek and Bülent Arınç
Preceded by Nazım Ekren
Minister of Foreign Affairs
In office
29 August 2007 – 1 May 2009
Preceded by Abdullah Gül
Succeeded by Ahmet Davutoğlu
State Minister for Economic Affairs
In office
18 November 2002 – 29 August 2007
Preceded by Masum Türker
Succeeded by Mehmet Şimşek
Personal details
Born (1967-04-04) April 4, 1967 (age 47)
Ankara, Turkey
Political party Justice and Development Party
Spouse(s) Ülkü Zeynep Babacan (m. 1995)
Children Mustafa Kerem, Fatma Dilara, Hilmi Emir
Alma mater Middle East Technical University
Kellogg School of Management
Religion Islam

Ali Babacan (Turkish pronunciation: [aˈli babaˈdʒan]; born 4 April 1967 in Ankara, Turkey) is a Turkish politician and the current Deputy Prime Minister of Turkey responsible for the Economy. He was previously Minister of Economy in the 58th cabinet from the Justice and Development Party (AK Party). On August 29, 2007, he was named Minister of Foreign Affairs of in the cabinet of re-elected Prime Minister Recep Tayyip Erdoğan. Babacan succeeded Abdullah Gül, who became President.


Babacan graduated from Ankara College ranking first among the class of 1985.[1] He attended the Middle East Technical University in Ankara and in 1989 was awarded a BSc in Industrial Engineering with the highest marks.[1] He went to the U.S. on a Fulbright Scholarship to do postgraduate studies and in 1992 received an MBA from the Kellogg School of Management at Northwestern University in Evanston, Illinois, with majors in marketing, organizational behavior and international business.[1]

Career in finance[edit]

Babacan worked then for two years as an associate at QRM, Inc. in Chicago, Illinois, a company doing financial consulting to the top executives of major banks in the United States.[1] He returned to Turkey in 1994 and, served as chief advisor to the mayor of Ankara the same year. He was the chairman of his family owned textile company between 1994 and 2002.

Political life[edit]

Babacan speaks to United States President Barack Obama, along with other Turkish, Swiss and Armenian foreign ministers.

He entered politics in 2001 as a co-founder and a Board member of the Justice and Development Party [2] and was elected to parliament as deputy for Ankara on November 3, 2002. He was appointed Minister of Economy on November 18, 2002 and became the youngest member of the cabinet, then at the age of 35.[3]

Babacan had the duty to steer a painful economic reform program, which was backed by multi-billion-dollar IMF loans; with its help Turkish economy achieved a remarkable recovery after two severe crises. He stayed always away from the rough-and-tumble of the Turkish political arena and focused solely on the economic reform, acting rather as a technocrat without indulging into populism.

On May 24, 2005, Prime Minister Recep Tayyip Erdoğan announced his appointment as chief negotiator in Turkey's accession talks with the European Union,[4] which started on October 3, 2005.[5]

As government minister Babacan has attended several international meetings including the World Economic Forum in Davos, Switzerland, and the Bilderberg Group.

On May 1, 2009, Babacan was appointed as minister responsible for the economy by Prime Minister Erdoğan, and with additional responsibility for the Treasury.[6]


  1. ^ a b c d "Başbakan ve bakanların özgeçmişleri" (in Turkish). 3 September 2007. Retrieved 13 January 2011. 
  2. ^ "Meclis'in 6. partisi" (in Turkish). 15 August 2001. Retrieved 13 January 2011. 
  3. ^ "58. Hükümet’in profili" (in Turkish). 18 November 2002. Retrieved 13 January 2011. 
  4. ^ "Başmüzakereci Ali Babacan" (in Turkish). 29 May 2005. Retrieved 13 January 2011. 
  5. ^ "Türkiye-AB müzakereleri resmen başladı" (in Turkish). 4 October 2005. Retrieved 13 January 2011. 
  6. ^ "Yeni kabine ve 26 bakan" (in Turkish). 1 May 2009. Retrieved 13 January 2011. 

External links[edit]

Political offices
Preceded by
Abdullah Gül
Minister of Foreign Affairs of Turkey
Succeeded by
Ahmet Davutoğlu
Preceded by
Masum Türker
Minister of Economic Affairs of Turkey
Succeeded by
Mehmet Şimşek
Preceded by
Mehmet Şimşek
Minister of Economic Affairs of Turkey
Succeeded by
Zafer Çağlayan
Preceded by
Hayati Yazıcı
Nazım Ekren
Deputy Prime Minister of Turkey
with Cemil Çiçek and Bülent Arınç

May 1, 2009–present
Succeeded by