In his speech in Vienna the Brexit secretary will acknowledge that any future system of mutual recognition of regulations will require mutual trust in the institutions that enforce them.
Deputy director general Josh Hardie said: "Business will welcome [Davis's] recognition of the benefits of frictionless trade, and the United Kingdom government's commitment to maintaining high standards to keep people and products safe".
The Brexit secretary will claim that Theresa May's government wants to oversee a race to the top in global standards, listing workers' rights, City regulation, animal welfare and the environment as areas for potential improvement.
The report, which argues in favour of staying closer to the European model of trade rather than the U.S. one, also warns that there are signs that the United Kingdom wants to deregulate.
So, while Davis will today argue for continued close co-operation between the United Kingdom and the EU on regulations and standards, he'll offer nothing new to explain quite how the United Kingdom might ensure continued "frictionless" trade while remaining outside the single market and customs union break, and nothing new to break the current deadlock in the negotiations.
"There is no reason whatsoever why we should not be able to exit both the customs union and the single market, whilst maintaining frictionless trade not only north-south in Northern Ireland, but with the rest of continental Europe as well", Johnson said.
"Evidence, not ideology should guide the UK's thinking on a close future relationship with the EU".
"David Davis's promise. isn't worth the paper it's written on", said shadow Brexit secretary Sir Keir Starmer. "And flexibility will be required from both sets of negotiators to seek solutions that will preserve prosperity on both sides of the Channel".
He insisted the Government will maintain its track record of high standards outside of the European Union and had no plans to engage in a new "race to the bottom".
"David Davis is living in cloud cuckoo land if he thinks the European Union will simply accept assurances about the UK's standards without blinking", Green Party co-leader and campaigner for Best for Britain, Caroline Lucas, said.
Helen Dickinson, chief executive of the BRC, said: "The secretary of state provided some welcome assurances that the government wants to maintain and improve standards that deliver for consumers, whilst not inflicting any additional administrative burden on business".
A presentation prepared by Michel Barnier's Brexit taskforce last month said the United Kingdom could ditch rules around redundancies "in order to reduce cost and delays for collective dismissals".
Labour said past comments by some senior ministers showed they wanted to use Brexit as a vehicle to "drive down" environmental standards and employment rights when, instead, they should be extended.