Trade volume between Malaysia and Iraq reached US$43 million in the first seven months of 2010.
According to the Malaysia External Trade Development Corporation (Matrade), the figure comprised US$20.2 million in Malaysian exports to Iraq, and imports worth US$22.8 million.
Matrade's senior trade commissioner, Datuk Dzulkifli Mahmud, said Malaysian exports to Iraq were mainly electrical and electronic products, chemicals and chemical products, processed food, palm oil, transport equipment and wood products.
"And we mainly import crude petroleum from that country," the Dubai-based trade official told Bernama.
Malaysia-Iraq bilateral trade touched US$156 million in 2009.
Dzulkifli said Matrade Dubai was planning to organise a specialised trade mission to Iraq involving Malaysian businessmen and construction companies to explore business opportunities there, including the Iraqi Kurdistan region.
"The immediate requirements of the government of Kurdistan are housing and the upgrading of hospitals," he said.
He added that Matrade Dubai was keen to make further inroads for Malaysian products and services in Iraq, particularly, Baghdad.