Foreign Rights Agencies are the ones selling your book's foreign rights.
Book Foreign Rights in essence means the right to sell your book in foreign countries. The publisher, the agent or even you as the author can sell the foreign rights to your books to a foreign publisher. If the publisher sells the rights, expect to get 40%. If the agent sells the right, expect to get 80%.
The process will involve translating your book into that foreign language.
Tip #1: When you contact a Foreign Rights Literary Agent include in the email: sales figures, awards, book description, reviews, book trailers, links to the book’s website, its page on Amazon.com / Goodreads and any other information you might find useful. You could also offer to send a copy of the book and ask for the agent’s mailing address.
Tip #2: When you get an offer from a Foreign Rights Literary Agent, negotiate an advance. Ask for the royalties for the entire first printing. The amount should include the number of copies, the retail price and the royalty rate.
Tip #3: Be aware that when you sign a contract with a publisher, your contract might have sold the publisher rights in all languages and formats. If that's the case, the publisher owns the foreign rights and if you'd want to sell the rights, you'll need to negotiate with your publisher first to get the foreign rights back.