How to write an API for a Python application?

[Gary Kshepitzki]

Hello
I would like to create an API for a piece of Python code. The API is for use by non Python code.
It should support interaction in both directions, both accessing functions on the API and the ability for the API to raise events on its clients. 
What is the best way to do that?
I though of doing it as a python COM server but I am not familiar with COM and I saw that implementing a COM server with events in python is not trivial.
Is there a better (or simpler) solution?
What are the common ways for doing that?

Any answer would be greatly appreciated.
Regards
Gary
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