Norway is considering to deepen cooperation with neighboring Sweden and Finland to tap the economic potentials in the Arctic region.

Norwegian Prime Minister Erna Solberg is open to proposals put forward by an expert group on the matter, according to Norwegian media reports.

For years, Finland has been pushing hard for the three countries to explore new economic opportunities in the region known here as the High North.

Solberg described the Finnish move as "a good initiative", saying that it is always good to be challenged by others to look at new ways of thinking.

"The three countries have good cooperation from before, but we may not have had such a deepened partnership around what happens between the three countries in terms of development in the north," said the Norwegian prime minister.

Four specific areas identified for further cooperation between Norway, Sweden and Finland include gas utilization, mining, tourism and climate technology.

The proposals are expected to be presented at the ninth Arctic Frontiers conference, which opens on Sunday in Tromso, an important Arctic city of Norway.

The Arctic Frontiers conference is a meeting place for politicians, scientists and industry representatives to discuss challenges and opportunities in the Arctic region, where economic activities are picking up in the wake of global warming-up.