From the first days of its establishment, Economic Cooperation Organization (ECO), as an economic integration comprising 10 developing countries located in a region of geo-economic and geo-strategic importance, with considerable population and market size, significant reservoirs of oil and gas and profuse raw materials has been of interest of international and regional experts and scholars. However, the interests have recently been of more critical nature; to the extent that some scholars contend that it is now a failed organization or has been transformed to a mere forum. The present article investigates the main arguments of the critics and provides some counter-arguments. It also introduces a few specific indicators more suitable for reviewing the Organization's performance. Utilizing these indicators, ECO's achievements and failures are reviewed in the second section of the article. As a result of the said review, last section of the article has been devoted to the presentation of some recommendation for strengthening, enhancement and expedition of achieving of the Organization to its main goals and objectives.