Politicians urged not to restrict trade

Mr Zoellick said: "Leaders must not heed the siren-song of protectionist fixes, whether for trade, stimulus packages or bailouts.

"Economic isolationism can lead to a negative spiral of events such as those we saw in the '30s."

The World Bank believes protectionism could have serious implications for some exporters.

Mr Zoellick's words came ahead of the crucial meeting at the Excel centre on April 2, which will see all members of the G20 plus other invited countries in Docklands tackling the financial crisis.

Douglas Alexander, the Secretary of State for International Development, also called on leaders to learn lessons from the '30s and ensure a unilateral agreement was made.

He was speaking after the meeting of G20 finance minsters in Sussex at the weekend.

He said: "We had an agreement from everybody around the table to do all that that is necessary for as long as is necessary.

"There was a recognition with 20 countries around the room that the fiscal response is going to vary from country to country."

He added in the interview with the BBC: "At a meeting in London 1931, the world came together and failed to reach agreement on the way to deal with the recession at that time and we all know the consequences."

Meanwhile, President Barrack Obama denied there was rift developing between the US and Europe.

He said: "I don't know where this notion has emerged that somehow there are sides developing with respect to the G20. There are no sides."

Click here for more on the summit.