“Matching” or “Linking” Two WordPress Pages: Custom Fields?

There is a plugin named Multilingual Press doing exactly what you described.

As a lightweight solution, you could create a network table to store the relations and a metabox for all posts where you can search and assign posts from other pages to update the network table.

Do not use post meta data. You would have to synchronize two different tables, that will break sooner or later. Never store the same information in two places.