BSP application & does not exist

What causes this issue?

The BSP application &V1& does not exist in the system.
BSP applications cannot be created through the SAP Note Assistant.

System Response

BSP page &V2& for BSP application &V1& cannot be imported.

How to fix this error?

First, create the BSP application &V1& manually, as described in the
note. Then you can import the BSP page &V2& using the SAP Note
Assistant.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.