A delegation of the German state of Northrhein-Westphalia has come to Nizhni Novgorod, a large industrial center on the Volga River, on a routine visit. On Friday, the German delegates led by the Minister of Economy of Northrhein-Westphalia Ernst Schwanhold met with Sergei Kiriyenko, presidential envoy to the Volga Federal District. Discussed at their meeting were joint projects in the area of air carriers, as well as the region's legal environment for foreign investors. The conferees agreed to establish an annual prize in the area of Russian-German economic cooperation. "We agree that our cooperation is at the threshold of a new phase of development," the German minister said following the meeting.