There's nothing even close to racism in that speech. You're being close-minded and letting your hatred for the other side blind you to the actual argument.
True, unless I missed it.
As someone who disagrees with him, I'm not sure if I should be sad or glad that people like him are being sidelined by cretins like Boris and xenophobes like Farage.
He has good arguments and presents them well, though he is wrong on some important points.
e.g. He thinks we'll be able to negotiate trade treaties easier by ourselves. There is some logic to that belief, but his main example (India) has explicitly said that they don't want us to leave.
I'm not an expert here, but I think that the openness of the UK economy and our general lack of protectionism means that there's not really any need to cut us a special deal.
He also seems to paint all 'eurocrats' as wanting more EU integration, which simply isn't true (though as an MEP, I'm sure he meets a few people who'd love a US of Europe). Even the Germans want to keep most of their shit in the Reichstag and out of Brussels.
He does have a point about big companies
liking regulations, which few people seem to understand. He's a little bit wrong about the reason though. It's generally because regulatory compliance costs help big EU companies (who can afford it and have local knowledge) keep out their Chinese/Indian competitors (who can't afford it and/or lack staff who can understand it). Excessive regulation can have a negative effect on small EU companies, but a lack of regulation would be even worse for small companies since they don't have the marketing 'brand' power to beat cheap foreign imports.
Furthermore, lobbying for regulatory protections applies just as strongly (and probably more strongly) in national government regulations so it's not a good argument for leaving Europe. We'd still have Tesco lobbying for regulations that screw the local independent supermarket or whatever.