Libya's decision to end weapons of mass destruction programmes will open up the country's economy to American investors, reports Gamal Nkrumah "Come and see... We don't want to hide anything," Libyan leader Muammar Gaddafi proclaimed as he announced plans to scrap all weapons of mass destruction. President Hosni Mubarak expressed surprise that Libya was in possession any weapons of mass destruction in the first place, though he pronounced the Libyan initiative "useful". The reactions of other African and Arab leaders was similarly muted. In sharp contrast, the news was warmly received by Western powers. Praise was heaped on the Libyan leader. "When leaders make the wise and responsible choice, when they renounce terror and weapons of mass destruction, as Colonel Gaddafi has now done, they serve the interest of their own people and they add to the security of all nations," US President George W Bush said in response to Gaddafi's overtures. "As Libya becomes a more peaceful nation, it can be a source of stability in Africa and the Middle East. Should Libya pursue internal reform, America will be ready to help its people build a more free and prosperous country," Bush added. "This courageous decision by Colonel Gaddafi is an historical one. I applaud it," concurred British Prime Minister Tony Blair. Washington and London hope that other nations will follow suit -- except, one presumes, Israel. Washington's staunchest Western ally, Britain, has already resumed diplomatic relations with Libya and maintains extensive commercial and economic ties with the North African country. British Foreign Secretary Jack Straw described Gaddafi as "statesmanlike and courageous". Initially there was much confusion over whether the Libyans wanted to dismantle WMD facilities or simply invite inspectors to see if the country possesed such weapons. But in separate interviews with the BBC and CNN Gaddafi clarified the issue. The Bush doctrine of pre-emptive strikes seems to have yielded results, Western media pundits insinuated. Others poured scorn on Gaddafi's non-proliferation diplomacy. Gaddafi, speaking on CNN in an interview broadcast on Monday, invited international inspectors to visit Libya and decide for themselvs if the country possessed a WMD programme. "We have no intention to make these weapons of mass destruction. But there are many rumours, many accusations, propaganda against Libya, particularly in this field, and we have to stop this propaganda against us," the Libyan leader complained. Gaddafi stressed that the international community should not only target Arab and Muslim countries for inspection. He said that the world should focus instead on Israel's nuclear capabilities. "Why are you accusing us and using propaganda? You exercise terrorist policies against the Libyan people," he said in a veiled reference to the US airstrike against Libya in 1986 which resulted in the death of Gaddafi's adopted daughter and the destruction of his palace. The Libyan people have long suffered the debilitating impact of the international embargo, but UN sanctions were lifted this year and foreign companies -- mostly European and Asian -- descended on the country to make up for lost time. The US, however, has so far remained adamant in its refusal to lift sanctions. Libya, a member of the Organisation of Petroleum Exporting Countries (OPEC), is entirely dependent on the export of oil and has benefited from the relatively high prices of oil and natural gas recently. Libya clinched a deal in September in which it agreed to compensate the families of the victims of the 1988 bombing of the PAN-AM airliner over the Scottish village of Lockerbie. Libya declined to admit responsibility for the Lockerbie airliner bombing, but pledged to collaborate more closely with the US and other Western powers in containing terrorism. Libya's agreement to sign a protocol to the Nuclear Non-Proliferation Treaty (NPT) permitting intrusive spot checks of nuclear sites was welcomed by international experts in the field. The Libyan decision "was a step in the right dirction," said the director general of the UN International Atomic Agency (IAEA) Mohamed El-Baradie, scheduled to visit Libya next week. El-Baradei will head the team of nuclear inspectors that will visit several sites in the sprawling desert country. Libya's renunciation of WMDs inevitably drew parallels with Iraq's ostensibly uncompromising stance. Iraq, too, had denied it possessed such weapons. "Iraq could have been handled also with continuous containment," said former UN chief weapons inspector Hans Blix. He said that the Iraqis probably destroyed whatever weapons they had after the 1991 Gulf war, which is precisely what the regime of Saddam Hussein consistently maintained.