This thread seems to largely have focussed on the KraLor end of this equation, which I'm going to do even more so... (The short answer for Karse would be "whatever that Peloria has, that's of value to anyone else whomsoever", which must cover a lot of ground...)
To put it in negative terms, what they're unlikely to import is anything too bulky, or anything that would smack of paying any mind to any lesser culture (i.e., any other whatsoever). I'd think wine would be marginal in either category, but not impossible.
So ideal are ludicrously expensive raw materials (such as, as been suggested, precious metals and stones), which would be valued both as "ready cash", and as media for artworks.
One known 'trading' relationship is with the Pentans and Praxians: they sell their service as mercenaries, for unspecified payment but which could be anything as mundane as gold, or as exotic as the sorts of things that might find their way back to parts further west. (The more civilised sorts of barbarian...) Which provides a more informal way of trading with the Kralori: don't do it with the Kralori. Either flavour of nomad, or the Ignorants, or the "sub-Kralori" that exist in various scattered places west of the ShanShan (the "Silk Road" forts in Pent, perhaps the odd village in the "Badlands"), would be far more eager and less sniffy about trading with the Lunars (or whomever else). And in turn, the Kralori are more likely to deal with the former than the latter. Thus things can "just turn up", often via several hands, in either empire without the need for a joint imperial concordat explicitly permitting it.
Oh, and with due acknowledgement to Trotsky, bison sperm, on tap. ;-)
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