Ali Babacan (Turkish pronunciation: ; born 4 April 1967 in Ankara, Turkey) is a Turkish politician. On August 29, 2007, he was named Minister of Foreign Affairs of Turkey in the new cabinet of re-elected Prime Minister Recep Tayyip Erdoğan. Babacan succeeded Abdullah Gül, who became President. He was previously Minister of Economy in the 58th cabinet from the Justice and Development Party (AKP), which came to power in November 2002.
Babacan graduated from the TED Ankara College ranking first among the class of 1985. He attended the Middle East Technical University in Ankara and in 1989 was awarded a BSc in Industrial Engineering with the highest marks. 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.
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. 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.