The necessity of Sustainable Development of Space Activities, which can be seen as a concept receiving some impression from Sustainable Development, has been actively debated over last decade. This paper examines the current status of the international regime of space activities by comparing the international regime of sustainable development and analyzing the norms and principles applied in the Draft Code of Conduct of Space Activities of the EU and the Long Term Sustainability of Space Activities. The paper concludes that the Space Traffic Management system should set the guiding principles for international space activities.