Economic Cooperation Organization (ECO), based on regional and multicultural cooperation, has focused on the improvement of living standards, collective as well as individual prosperity of people and economic development of member’s states. Since February 1992 ECO has been expanded to ten as the result of collapse of the Soviet Union. Of course, gas and oil are very important factors in this regard. ECO has followed its two major plans in the context of “Action Plan” and "Istanbul Declaration". Each of these documents is an indication of overall goals of this organization by 2005. One of the most important goals of ECO members has been accelerated of economic growth and development. The main question of this paper is: “Has ECO been able to fulfill declared goals among member states?” The hypothesis of this paper is: ECO has failed to achieve these goals. Prove of this hypothesis makes the revision of ECO activities a necessary step
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