I'm an OLDIE! Ms Velveteen! Trainspotting was from 1996 -- can you believe it? It seems like yesterday!
Kira

It does seem like yesterday! Its actually on my list of "recent favourites" I'm still quoting from Trainspotting and Pulp Fiction maybe I need to see some current films!

I'm old too I'm afraid, I saw Trainspotting when it came out at the movies. I love it.

Almodovar is one of my favorites directors, in "La Ley del Deso" (Law of Desire) you can see a very young Antonio Banderas playing another gay role with really intense scenes it's a beautiful film...Also "Habitos Negros" (Dark Habits), "Kika", "Tacones Lejanos" (High Heels), and "Laberinto de Pasiones" (Labyrinth of Passion) are my favorites.

Another one that I love is Eliseo Subiela, my favorite movie by him is "El Lado Oscuro del Corazon" (The Dark Side of the Heart) is pure existensialism.

Velveteen mentioned "Abre los Ojos" (Open Your Eyes), another great movie by Chilean Director Alejandro Amenabar. By him "Tesis", "Mar Adentro" (The Sea Inside) and The Others (his first Hollywood movie).

Well, I'll stop again is just that I hate Hollywood hehe.

Some really good recommendations here already!
Someone mentioned Czech movies. I couldn't help but think of Kolya. That's such a great movie!
Amelie and Delilcatessen are both awesome as well.
More recent: The Lives of Others, I think it actually won the Oscar for foreign movie a couple of years ago.

And as for all the "oldies" recommended ..count me in as an old person in that case LOL.

I love foreign films. IN fact I am watching Persepolis right now. It is very good - especially good if you have read Reading Lolita in Tehran.

I also reccomend Brotherhood of the Wolves, Cyrano De Bergerac (w/Gerard DePardieu), Jean de Florette and its sequel Manon of the Spring.

If you can find it Swordsman With an Umbrella - which you need to watch with both English dubbing and subtitles on - the two don't match and it is hysterical.

For those who liked Life is Beautiful I reccomend Johnny Stecchino which is also by Roberto Benigni. It is hysterical.

Oh and Tatie Danielle

Almodovar is wonderful! I mentioned Hable Con Ella in the post above yours (but in English) -- I adored that movie. Women on the Verge of a Nervous Breakdown is good too, but I liked Volver and All About My Mother better. I can't remember the name of the one with Gael Garcia Bernal in drag -- I didn't love the film, but he's one of my favorite actors.

"La Mala Educacion" (The Bad Education).

I've always loved watching foreign films (I was that weird 11 year old that would rent foreign films much to the interest of her grandparents)... but lately I've been totally into Indian films. Bollywood movies are cheesy as heck, but I love them! hehe

If you ever want to watch a great (and wow, it's the poo!) Indian movie, I suggest watching Rang de Basanti. It is FABULOUS! I've watched it three times already, and I cry every time! Heck, I even have the soundtrack!

L'auberge espagnole (The Spanish Apartment) is one of my favorites. It's about a French college senior who moves to Barcelona. It's a French movie but there is some Spanish and English in it. It's got Audrey Tautou.
I took Czech for a couple years in college and there are some really good films we watched. Pelíšky (Cozy Den) is one I really liked, it's funny in a dry way.

Well, if you count British films as foreign films (I guess I'm thinking like the Academy, to them anything in English isn't a foreign film), I *love* old Brit films:
The 39 Steps (Hitchcock)
49th Parallel, The Red Shoes, I Know Where I'm Going, A Matter of Life and Death (Powell & Pressburger)
The Third Man (Carol Reed)
A-n-y-t-h-i-n-g by David Lean
I haven't seen it yet but I suppose Slumdog Millionaire has to count as long as half of it is in Hindi?
As for Life is Beautiful, Benigni was supposed to be making a movie about the Iraq war: whatever became of that project?

I remember enjoying a slew of Chinese movies in the 90's (i.e. Scent of Green Papaya, Raise the Red Lantern). I've been meaning to rewatch them to see if they are as good as I remember. The Japanese version of Shall we Dance (that the Richard Gere travesty was based on) was pretty good, too.

I second the love for Amelie and Run Lola Run! Need to rewatch both of those again, soon! And ditto, too, on the Australian movies (Muriel's Wedding, Priscilla QotD, and my fave, Strictly Ballroom). I love Australian humor!

The ones that come to mind righ toff the bat...The Orphanage and The Diving Bell and the Butterfly...loved both these!

We own some and when we had Netflix we would rent some.

Ones I really like off the top of my head:
Run Lola Run
Millions
Muriel's Wedding
Life is Beautiful
Bread & Tulips
Ciao, Professore!
The Fall (now this is one that I'm not sure if you'd classify as foreign, filmed in foreign country with mostly foreign actors by American based (?) Indian director, it definitely has a foreign vibe to it)

These are ones my husband loves and watches constantly, I can attest that they are good. The Curse of the Golden Flower had a lot of good suspense.
Curse of the Golden Flower
Hero
House of Flying daggers

I've also seen some bollywood films and those were very good and when I was taking Italian in college, I saw a number of Italian movies, most were really good but don't remember names of them.

we watch a lot of foreign films. a lot of it is japanese - nothing better then Japanese horror in my opinion! I highly recommend Battle Royale. My favorite horror movie is a UK one - The Descent. It was the scariest movie I've ever seen. Also from the UK that I loved was Son of Rambow. Very good movie.
A good french one we recently watched was Tell No One.

All the other recommendations are great. Loved Amelie and Run Lola Run.

^I've been intending to watch some good Japanese films.. I started to watch Onibaba but had to quit.

My favorite director is Ingmar Bergman. The Virgin Spring and The Seventh Seal are my two top favorite films. Though I like Italian cinema too. I've always been bored of sensationalist American movies.