Mohamed said that Malaysia continues to look at Iran as an important destination for Malaysian products.
The minister added that Malaysia has had wide trade relations with Tehran and a number of Malaysian companies are currently carrying out construction projects in Iran.
Based on official statistics, trade between Iran and Malaysia stood at $23 million last year.
'We are aware that one or two other countries in the region are attempting to identify opportunities in the Iranian market which has once again joined the global economy,' Mohamed said.
He also said that a high-profile Malaysian delegation is to visit Iran in a near future.