Can I move a Virtual Machine from one computer to another?

I'm clearing down an old Macbook, and wanted to try and move the VM I have on it to another Macbook (both Intel machines, version of VMWare is Fusion 7, the VM is XP SP3). Reason I wanted to move it intact rather than set up as new was to preserve the installed programs and settings/files etc. but I tried copying the Virtual Machine folder that contained the ~8gb XP SP3 VM, along with the two VMWare folders from Application Support to the new machine (into the same locations) and then installing VMWare Fusion 7, but everytime I try to start the VM I get these two errors (see first post). What do I need to do?