Prelude to the Creation of CFTM

When the preferential accommodations are withdrawn in 2005, other countries with preferred status will take Bangladesh's place as low cost producers. The RMG sector in Bangladesh, with its poor quality and low productivity will be no match for the competitive producers. Sri Lanka has a smaller industry, but the annual turn over in volume and in dollar value is comparatively far superior to that of Bangladesh.

The higher volume is explained by productivity. Factories in Sri Lanka operate at 80% - 90% of potential capacity. Whereas in Bangladesh, according to some experts, productivity is between 35% and 55% of potential capacity with very few exceptions. For the RMG sector in Bangladesh, productivity alone can make a difference between life and death.

The higher dollar value is explained by the addition of value. The consumer surplus is drastically greater in the market for high end products. Consequently, the profit margin is much higher for high end products.

Trained people are at the heart of the successful RMG manufacturer: Trained designers, in tune with designers at the buyer's end, adapt the buyer's needs into the manufacturing process. And skilled managers organize the production floor for efficiency and quality.

Sri Lanka invested in creating the human resource that man their industry: CITI, Phoenix College, University of Moratuwa, are only some of the academic institutions in Sri Lanka that train people for the RMG sector. In India, the Ministry of Textiles has set up National Institutes of Fashion Technology in all major cities. In addition there are a large number of elite private institutes in India.

It is in this context the College of Fashion Technology & Management (CFTM) will play the vital role in RMG sector by producing professional skilled human resources. CFTM has opened its door to student or participants in April 2008.

Academic activities at CFTM are stimulated by the RMG sector of Bangladesh. The degree programs, though distinct, require students to develop some skills that are basic to designing and making apparels.