By importing product's configuration you basically do the same as per duplicating, but this time you do not choose another product that is existed in your site, but use config's data from the file. Another difference is that all options' instances may not work as you may not have them saved to DB on the site where you do import. That's why I would suggest using 'remove pid attribute values from all the modules' checkbox upon import. Since product's config contains also options' internal IDs, this setting actually removes them during the import. So, then you just have to open each options' settings and save them with 'save to DB' checkbox to make options' instances operational.