Regression of EU Sustainability Priorities and Trade Policy: Vision of Development

Abstract

The study investigates the specific features of achieving the goals of sustainability in the process of ensuring the economic development of the European Union. It is established that an important means of implementing the principles of sustainable development in international trade as a source of economic growth and a tool for promoting ideas and stimulating their observance on a global scale. The study proved the existence of positive mutual influence and synergetic interrelation of foreign trade activity of the countries, ecological efficiency of their economic system and level of development. According to the results of the multifactorial grouping of EU countries, it is argued that countries with a higher level of development have higher potential opportunities in achieving Sustainable Development Goals. At the same time, the policy of less developed countries of the integration group is primarily focused on economic growth and strengthening its position in the world market by increasing the burden on the environment. The scientific novelty of the study lies in the empirical proof of the possibilities of balancing the goals of sustainable development and economic growth of countries through international trade as a sphere of consensus of economic, social, and environmental interests at the national and global levels.