Britain is set to enter Brexit trade negotiations with the EU later in January.
But Mr Gill said the UK should prepare for a “no deal” Brexit, as concerns grow about possible attempts from the EU to maintain control over British trade.
He said: “This could very potentially go to no deal. I think that’s something we really need to be looking at in the United Kingdom as a whole.
“The whole purpose of trade deals isn’t necessarily about trade but it’s actually about control. Control in the economics and control in the marketplace.
“One of the things I think Michel Barnier is looking at is that Germany needs to make sure that an emerging free and independent British market is controlled for the next 50 years.”
The staunch Brexiteer warned that entering a bad deal with the EU could affect the UK’s future trading relationship with international partners like Asia.
Speaking after a meeting with EU Brexit negotiator Mr Barnier and members of a British pro-Leave delegation, Mr Gill said: “This trade deal, if we enter it on bad circumstances, will do just that: it will basically hold us back from trading with the world.
“As Lord Digby Jones said, this is the century of Asia: this is where trade with China and the rest of Asia is going to be king and key for all economies of the world.
“If we are not free to have those trade deals and to look beyond the horizon of the European Union then we will very drastically deny ourselves the economic growth that we potentially won through the Brexit referendum.”
The British MEP told EU Reporter that his meeting with Mr Barnier had confirmed the EU negotiator would play a “tough” game during Brexit negotiations – warning the EU would try its best to defend the stability of the European Projects.
He added: “I think the biggest message is that Barnier is a tough negotiator who is looking out for the European Project, not for individual people in the European Union, to protect the project to ensure it carries on.”
But some EU member states have begun to defy the common EU Brexit strategy, with Spain and the Netherlands joining forces to rally for a Brexit deal “that keeps Britain as close to the EU as possible.
Madrid has backed minimum tariffs for a post-Brexit agreement with the UK, despite German Chancellor Angela Merkel taking a much harder line against Theresa May.
The agreement between Spain and the Netherlands has come despite both Germany and France attempting to hit the UK with tougher conditions for market access, it has been reported.