If one wants a type rating on his multi engine commercial pilot FAA license, will that also be endorsed on his foreign commercial pilot license from an ICAO country?

It looks like that would be up to your country's aviation authority. It appears it would work the other way, though. Here's 14 CFR 61.75.

http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=af5ee9a96b7d96d060931406d8025db5&rgn=div8&view=text&node=14:2.0.1.1.2.2.1.10&idno=14

As flyboyike said, entirely up to that particular foreign country-- some do will issue the type rating for the normal application fee and others will not do it without you going through a checkride with one of their examiners. With respect to aircraft type ratings, doesn't entirely work the other way either, as the US FAA will give an SIC Type Rating based on paperwork alone, but not a PIC Type Rating.