I would like to switch Iphone5 and Iphone 4

I have both an iPhone 4 and an iPhone 5 in use.
Current situation:
I have the iPhone 5 with the simcard and settings from country X.
I have the iPhone 4 with the simcard and settings from country Y.
What I want to do, is to swap everything (including whatsapp data, photos, apps, music, bluetooth profiles, just everything) from my iPhone 4 and iPhone 5, and to swap the simcard. This enable me to use the iPhone 5 as my main phone in country Y, while at the same time, I keep reachable for persons calling me on my cell number from country X.
Target situation:
I have the iPhone 5 with the simcard and settings from country Y.
I have the iPhone 4 with the simcard and settings from country X.
So just to summarize: In the future, I would like to use the iPhone 4 as I am using the iPhone 5 now; the iPhone 5 I would like to use as i am using the iPhone 4 now.
How can I do this? Let's assume that I can get the simcards in the correct sizes. Both phones are 16gb models.
I appreciate your comments and input.

You cannot restore the ip4 from the ip5 backup. You will have to do it the other way around. The ip4 will have a lower iOS than the iOS 6.1.4 in the ip5.
Read http://support.apple.com/kb/HT1766
which says:
iTunes and iOS do not support installing backups of newer versions of iOS onto devices using earlier versions of iOS.
You have identified that the two phones have different SIM cards so you have that sorted.
I would make sure you have good backup of contacts.  Use an app like MCBackup to create vcard of your contacts and email them to yourself.
This is what is contained in the backups:
WHAT IS CONTAINED IN A BACKUP
One active backup is contained in an iTunes backup and each time an new backup is created the previous backup is overwritten.  An iTunes backup contains the following information:
Contacts* and Contact Favorites (regularly sync contacts to a computer or cloud service such as iCloud to back them up).
App Store Application data including in-app purchases (except the Application itself, its tmp and Caches folder).
Application settings, preferences, and data, including documents.
Autofill for webpages.
CalDAV and subscribed calendar accounts.
Calendar accounts.
Calendar events.
Call history.
Camera Roll (Photos, screenshots, images saved, and videos taken. Videos greater than 2 GB are backed up with iOS 4.0 and later.)
Note: For devices without a camera, Camera Roll is called Saved Photos.
Game Center account.
Home screen arrangement.
In-app purchases.
Keychain (this includes email account passwords, Wi-Fi passwords, and passwords you enter into websites and some other applications. If you encrypt the backup with iOS 4 and later, you can transfer the keychain information to the new device. With an unencrypted backup, you can restore the keychain only to the same iOS device. If you are restoring to a new device with an unencrypted backup, you will need to enter these passwords again.)
List of External Sync Sources (MobileMe, Exchange ActiveSync).
Location service preferences for apps and websites you have allowed to use your location.
Mail accounts (mail messages are not backed up).
Installed Profiles. When restoring a backup to a different device, installed configuration profiles are not restored (such as accounts, restrictions, or anything which can be specified through an installed profile.) Any accounts or settings that are not associated with an installed profile will still be restored.
Map bookmarks, recent searches, and the current location displayed in Maps.
Microsoft Exchange account configurations.
Network settings (saved Wi-Fi hotspots, VPN settings, network preferences).
Nike + iPod saved workouts and settings.
Notes.
Offline web application cache/database.
Paired Bluetooth devices (which can only be used if restored to the same phone that did the backup).
Safari bookmarks, cookies, history, offline data, and currently open pages.
Saved suggestion corrections (these are saved automatically as you reject suggested corrections).
Messages (iMessage and carrier SMS or MMS pictures and videos).
Trusted hosts that have certificates that cannot be verified.
Voice memos.
Voicemail token. (This is not the voicemail password, but is used for validation when connecting. This is only restored to a phone with the same phone number on the SIM card).
Wallpapers.
Web clips.
YouTube bookmarks and history.
* Your contacts are part of the backup to preserve recent calls and favorites lists. Back up your contacts to a supported personal information manager (PIM), iCloud, or another cloud-based service to avoid any potential contact data loss.
There are three backups saved in iCloud and the following information is contained in an iCloud backup:
Purchased music, movies, TV shows, apps, and books
Photos and videos in your Camera Roll
Device settings
App data
Home screen and app organization
Messages (iMessage, SMS, and MMS)
Ringtones
Visual Voicemail
Make sure you transfer purchases from your phone to the computer  and do good backups of both phones first

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