TRIPOLI, Libya, Jan. 12 (UPI) -- Libya's disappointment with Arabs prompted it to begin opening up to the international community following years of political and economic isolation.
In less than a month, Tripoli took two landmark decisions aimed at returning it to the international fold: canceling its plans for developing weapons of mass destruction and settling the UTA case under which it agreed to pay $170 millions in compensation for the bombing of a French airliner.
Libyan leader Moammar Gadhafi, who always preached Arab union and solidarity, accused Arabs of letting down Iraq when it was invaded by U.S. and British troops last March.
In addition to opening up politically, Libya took steps in the past year to introduce a free economy.
Prime Minister Shukri Ghanem, a champion of economic openness, was appointed last year to launch an ambitious program of privatization including the oil sector in a country where 90 percent of national income comes from oil exports.
Libya also introduced laws to encourage foreign investments and granted permission to a number of foreign companies to establish industrial, tourist and health projects worth $700 million.
Gadhafi's overtures to the outside world were applauded by the Libyan public who aspire to improve their country's relations with the West, particularly the United States.
Washington renewed the sanctions for another three months late last year, a move regarded by Libya as positive because U.S. sanctions were usually renewed for a whole year.
