SEOUL, Dec. 7 (AFP) – Global trade this year is likely to fall by an ''unprecedented'' figure of more than 10 percent, the head of the World Trade Organization said Monday.

Pascal Lamy said governments have made progress in tackling the worst downturn for decades but much remains to be done.

''In February this year, the global economic downturn was peaking,'' the WTO director general told a forum in the South Korean capital.

''Less than a year on, progress has been made but we are not yet out of the woods.''

Future write-downs in the world financial system have now been cut to about three trillion dollars, he said, citing an estimate by the International Monetary Fund.

''The clean-up process has reached the half-way mark but this progress is still too slow,'' Lamy said.

The WTO chief urged members Monday to resist protectionist pressure in the wake of the economic crisis, but said hopes of an early deal to free up international commerce are uncertain.
''In February this year, the global economic downturn was peaking,'' WTO director general l Lamy told a forum.

''Less than a year on, progress has been made but we are not yet out of the woods.''

Lamy, in a speech and comments at a press conference, said the volume of world trade this year would shrink by slightly more than 10 percent, ''which is unprecedented in modern times.''