The Frenchman has suggested he could forge a potent strike partnership with the wantaway Liverpool striker and believes reports of an Arsene Wenger exit are wide of the mark
Brendan Rodgers' side have already rejected a £35 million offer for the Uruguay international, but the Gunners could return with a follow-up bid as a move for Gonzalo Higuain continues to stall and Chelsea understood to be Wayne Rooney's preferred destination.
Giroud, who notched 11 goals in his first season in the Premier League last term, isn't worried about the competition that Suarez's potential signing would create, however, and believes the two could strike up a solid partnership in attack.
He told L'Equipe: "Luis Suarez is someone with whom I could have a good feeling with on the pitch, so I am for his arrival. I'm not afraid of competition."
Arsene Wenger's side secured qualification for the Champions League ahead of north London rivals Tottenham last season, and while Giroud insists that finishing in the top four will remain the primary target, he hasn't ruled out a charge at the title.
"With Arsenal we want to qualify for the Champions League," the France international added.
"And with changes in the staff of our opponents, why not join in the title race? It is not the first objective, but if we can do it we will.
"On a personal level, my objective is to do better than last season, so get more than 17 goals and 10 assists. Finally, with Les Bleus, we simply want to qualify for the World Cup."
Regarding Wenger's future, Giroud believes the stories of an Emirates Stadium exit for the long-serving Frenchman are false, despite consistent links with Paris Saint-Germain.
He said: "There is talk of negotiations over a new contract for him so I do not think his departure is up to date."