That is according to Belgian football expert Kristof Terreur, who says that the right-back will probably leave the club this summer.
Emery is in the market for a new right-back after allowing Stephan Lichtsteiner to leave and with Hector Bellerin still out injured.
PSG star Meunier has just one year left on his deal and Paris with the club asking for between £20-25m to sell him this summer.
Emery knows Meunier well after signing the Belgium international for PSG in 2016.
Terreur says Emery has been in touch with him but thinks that signing him could hit the club’s transfer budget.
“He knows that he has one year left on his deal and has not been offered a new one at PSG so yes he will leave probably,” he told Sky Sports’ Transfer Talk podcast.
“His agent has been pushing around and preparing everything for a move.
“His agent has been pushing around and preparing everything for a move”
Belgian football expert Kristof Terreur
“He likes it in Paris and wouldn’t mind staying but Unai Emery has been in touch with him a few times because a right-back is a priority at Arsenal.
“But do they have the money after not qualifying for the Champions League?
“I’m told that for Manchester United he is definitely not their first choice because they are looking at other players.
“His agent has also had a meeting with Everton too but there has been nothing concrete so we are just waiting.
“He is not the best defender but is very good going forward and prefers to play in a 3-4-3 formation so we will have to see if any Premier League clubs come in for him.
“PSG want to sell him though for the right price at £20-25m.”
Meunier recently told Le Parisien when asked about leaving: “It’s something that could suit me.
“I don’t think the club would make a lot of money from me, actually.
“I have a market value, but I’m a defender. I play one game out of three and I’m turning 28.”