Stockholm/Copenhagen - The election of Barack Obama as US president was described as "historic" Wednesday by Nordic leaders, who expressed hopes for more dialogue and cooperation.

Danish Prime Minister Anders Fogh Rasmussen said he hoped to cooperate closely with the new American leadership, just like he had with President George W Bush.

Rasmussen said he hoped to cooperate with Obama in "the fight against terrorism, the mitigation of climate change and the development of new economic growth based on free trade."

Obama ran "a magnificent campaign," Rasmussen said, describing his victory as "an embodiment of the American dream. The dream that even the highest post in society is open to everybody who has the wish, the will and the ability."

In Oslo, Norwegian Prime Minister Jens Stoltenberg said the election of the first African American as president of the United States is "historic" and noted that "the outcome is of major importance to the entire world."

Stoltenberg said he expected the United States "to take the international lead in important issues, on the basis of dialogue and cooperation," adding there was need for "joint solutions" to take on "the financial crisis, the climate policy, the fight against poverty and our efforts for peace and security."

Swedish Prime Minister Fredrik Reinfeldt echoed that sentiment, saying that he hoped to cooperate with Obama on climate policy when Sweden next year takes over the rotating presidency of the European Union.

Obama is "key for a change" on climate policy, said Reinfeldt, noting that Obama has stated he is prepared to push for the United States to get more involved in United Nations-led efforts to curb climate change.

"He will influence how China and developing countries reason about climate issues," Reinfeldt said.

Like Stoltenberg, Reinfeldt said Obama faced "tough challenges" with the economic downturn and two wars in Iraq and Afghanistan.

Finnish President Tarja Halonen said the election was historic while Finnish Foreign Minister Alexander Stubb hoped the United States would join international efforts to tackle climate change and cooperate more within multilateral organizations like the UN and World Bank.

The election of Obama "represented a generational change, perhaps an ideological change," Stubb said.