This policy settings disables the Import/Export Settings wizard. This wizard allows you to import settings from another browser import settings from a file or export settings to a file. Importing settings from another browser allows the user to import favorites and feeds from other browsers. Importing settings from a file allows the user to import favorites feeds and cookies from a file. Exporting settings to a file allows the user to export favorites feeds and cookies to a file. If you enable this policy setting the user will not be able to use the Import/Export Settings wizard. If you disable or do not configure this policy setting the user will be able to use the Import/Export Settings wizard.
Disable Import/Export Settings wizard
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HKEY_LOCAL_MACHINE -> Software -> Policies -> Microsoft -> Internet Explorer # DisableImportExportFavorites
Windows Components -> Internet Explorer