The two leaders agreed to build strong links between Madhya Pradesh and Free State, according to an official release.
Chouhan is on a visit of South Africa looking for investment opportunities.
Accepting Chouhan's invitation to visit Madhya Pradesh, Magashule said that a delegation would visit the state in July to search avenues for co-operation and trade in the fields of agriculture, education and the development of small and medium enterprises.
The premier would also participate in The Global Investors' Summit to be held at Indore in October, the release said.
South Africa's Northwest province has expressed a keen interest in Madhya Pradesh.
Discussions focused on key sectors like tourism, wildlife management, exploration, mining and food processing, the release added.
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