KUALA LUMPUR: Investment, Trade, and Industry Minister, Tengku Datuk Seri Zafrul Abdul Aziz will elaborate on details of Malaysia's position in the World Competitiveness Ranking released by the International Institute for Management Development (IMD) today.

According to him, the ministry has received the report and is in the process of reviewing it to understand the various issues related to global trade.

"I will discuss it with the team and all relevant parties, and I will provide a detailed explanation on the matter this evening," he told reporters after the announcement of Malaysia's participation in the World Expo 2025 in Yumeshima island, Osaka, Japan.

Malaysia has slipped by seven places to rank at 34th out of 67 countries in the IMD's World Competitiveness Ranking 2024, after ranking 27th in the index last year.

In the Asia-Pacific region, Malaysia slid by four spots to the 10th position out of 14 countries.