The Gunners have reportedly made a bid in excess of £40m for the Uruguay international, and Wenger is hopeful of concluding a deal for the 26-year-old.
The French boss told a press conference: "We will completely respect what Liverpool wants to do. We want to [sign the player] if it is feasible in an amicable way.
"I am a great believer that 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."
It was reported earlier on Friday that Suarez is considering legal action to force through a move to Arsenal.