The pair missed large portions of last season due to serious injuries but they have been working on their fitness levels as they look to try and break back into Jurgen Klopp’s team this season.
Liverpool FC are aiming to go one step further in the Premier League this term after they ended up second in the table and just a point behind Manchester City last season.
The Reds enjoyed a relatively quiet summer transfer window, as they only brought in teenagers Harvey Elliott and Sepp van den Berg, plus back-up goalkeeper Adrian.
Liverpool FC challenged strongly for the title last season and also won the Champions League crown, and the Reds are widely considered to have one of the strongest squads in the Premier League.
And former Arsenal star Smith feels that the Merseyside outfit did not need to strengthen too much this summer as they look to win the Premier League under Klopp.
Speaking in an interview with Sky Sports, Smith said: “They [Liverpool FC] have such a high standard of player that it is difficult to add to it and if you cannot improve on the squad, then what is the point of buying for the sake of it?
“The fit-again Alex Oxlade-Chamberlain and Adam Lallana are like new signings.”
Liverpool FC were 2-0 winners over Tottenham Hotspur in the Champions League final last season.
They will try and win another European trophy this term when they take on Chelsea FC in the Uefa Super Cup next Wednesday.
MORE: Man United latest news
MORE: Arsenal latest news
MORE: Chelsea latest news
MORE: Liverpool latest news