The Government's Trade Bill intends to allow companies to carry on trading with so-called third countries that have already signed complex arrangements with the EU and account for 12 per cent of UK trade.

Such arrangements have already been scrutinised by the EU and European regulators, and consumers, workers and businesses would likely suffer if they unravelled after Brexit.

The Department for International Trade said the Bill will also provide a legislative basis for the UK businesses to retain access to an international government procurement scheme that is worth £1.3 trillion a year.

The legislation will see the creation of a Trade Remedies Authority that will be given powers currently wielded by EU regulators to protect UK companies from practices such as dumping.

International Trade Secretary Liam Fox said: "International trade creates jobs, helps lower prices for consumers and contributes to a growing economy - our Trade Bill will provide maximum certainty and continuity for business and consumers.

"As an international economic department our priority is to ensure that we continue to benefit from the trade agreements that the EU already has with other countries, and that we maintain the flow of free trade in both directions at the point we leave. Stability now with the flexibility to seize new opportunities in the future is what we seek."

The UK is not allowed to sign new deals with countries outside the European Union until after Brexit and the Trade Bill does not include legislation for this.

Dr Fox has said he wants to negotiate and sign deals with countries around the world during a transition period that are ready to put into effect once it ends.

The minister is due to give the Trade Bill its second reading in the House of Commons on Tuesday.