"I am open-minded about the possibility … It’s an obvious possible route as long as it’s short – perhaps a few months – and, secondly, that we know how to get out of it," he told BBC.
It has recently emerged that EU negotiators had proposed that London should stick to EU regulations beyond December 31, 2020, when its transition period is supposed to end after it quits the union in March 2019.
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Raab suggested three more months of transition would void the controversial "backstop" plan to keep the whole country in EU’s customs union beyond 2020 to avoid border checks on Northern Ireland’s border.
UK Prime Minister Theresa May proposed the transition period to allow more time for a new relationship with the European Union to take hold, including a new trade agreement.
READ MORE: Italy's Rising Deficits, ‘No-Deal' Brexit to Cause New Debt Crisis in Eurozone
