Export and Import large database from one rds of amazon to newly created amazon rds We are facing some issue. We would like to export and import mysql database "xyz" from old rds say xyz-rds to newly created rds say abc-rds (mysql).

We are approaching common method taking full export of xyz database using mysql command and which is too much of time.

Actually database size is of 45GB . from one hour we exported only 2 GB  of data so , if we calculate it will take around 20 hours to export whole database. Which will be tedious, So please suggest any solution to import and export database as much quickly as possible. Like say maximum of 2 hours.

Note: We are running old rds with 40GB RAM and new one with 20 GB RAM.
You could just use the RDS feature "Restore to point in time", which will create a full point-in-time snapshot of your current RDS instance:

http://docs.aws.amazon.com/AmazonRDS/latest/UserGuide/USER_PIT.html