World cautiously welcomes Iraq's acceptance of UN inspections

Tokyo-AP -- Iraq's decision to let UN weapons inspectors back in is being cautiously welcomed around the world.

The announcement is helping lift financial markets in Asia that have been weighed down by weeks of war talk.

Australia's foreign minister says it sounds like "a promising development" while New Zealand's prime minister calls it a "triumph of diplomacy."

And Malaysia's prime minister says sanctions on Iraq should be lifted in exchange for the return of the inspectors.

But Israeli Foreign Minister Shimon Peres is skeptical of the Iraqi offer. Peres tells Israel Radio, "Inspectors and supervision only work with honest people. Dishonest people know how to overcome this easily."

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