If you are only interesting in creating traces betweeen Rhapsody and Polarion, you can consider avoiding all the complexities involved in import/export solutions.
Instead, consider using the OASIS OSLC standard traceability features that lets you create links between the two applications, without having to import/export anything. In short, the applications will communicate with each other in real-time to allow you (the user) to search for what you want to link to, and create those links. Once the links are created, you can then naturally navigate between the applications by simply clicking on the traceability links. This works in both directions.
Both Polarion and Rhapsody have in-built suppprt for this OSLC linking feature. You just have to configure both applications correctly.
For Polarion, have a look at the following topics in the online docs
- Administrator's Guide --> Configure Connectors --> Linked Data Applications.
- User Guide --> Work Items --> Link Work Items--> Add Linked Data Items to Work Items
For Rhapsody, OSLC is the fundamental approach used to create links even within IBM's own toolsuite. Jazz is the underlying platform for many such IBM tools.
I wouldn't even know were to start since I don't have my own Rhapsody installation, and these tools keep changing names and versions. But search for "OSLC", "Jazz" and "Linking" in your help pages, and I am sure you will get tons of information.