AE: export selected Composition

Once in a while, we need to copy a single Composition from one Project to another.
The way to do this:
1-Save the Project under a new name
2-Select the Composition you want to copy
3-Choose File/Dependencies/Reduce Project
4-Save
5-Open the destination Project
6-Import the Saved Project (#step 4)

Wouldn't it be great if steps 1-4 could be replaced by a new function called:
Export Selected Composition

Thanks!