The Gunners head into this weekend's Emirates Cup without a marquee summer signing, despite chief executive Ivan Gazidis having talked up the club's new "financial firepower" at the end of last season.
A move for Gonzalo Higuain from Real Madrid never materialised as the Argentina striker eventually signed for Napoli, whom Arsenal will play on Saturday afternoon, while the Gunners' pursuit of wantaway striker Suarez looked to have stalled following a second improved bid of £40million plus £1, which had been intended to trigger a clause that would allow them to discuss terms with the Uruguayan.
Liverpool managing director Ian Ayre has insisted the Anfield club have no intention of selling their key man, who joined up with Brendan Rodgers' squad on the tour of Australia.
Wenger, though, indicated Arsenal remained hopeful of eventually negotiating a deal before the end of the summer transfer window.
"I don't want to speak about Suarez, because that is between Liverpool and Arsenal. We will completely respect what Liverpool wants to do. We want to (sign the player) if it is feasible in an amicable way," Wenger said.
"I am a great believer you have to keep as much confidentiality as possible, which is quite difficult in the modern world.
"But we work very hard, not only on the case you name, but on other different cases."
Suarez is currently serving a domestic 10-game ban imposed by the Football Association for biting Chelsea's Branislav Ivanovic at the end of last season.
The Uruguay international had previously received an eight-match suspension and £40,000 fine from the FA for racially abusing Manchester United left-back Patrice Evra in December 2011.
Source: PA
Source: PA