The terms ‘Agreement on Agriculture’, ‘Agreement on the Application of Sanitary and Phytosanitary Measures’ and Peace Clause’ appear in the news frequently in the context of the affairs of the.

The correct option is World Trade Organization.

Step-by-Step Explanation:

1. Agreement on Agriculture (AoA):
The Agreement on Agriculture is an international treaty of the World Trade Organization (WTO). It was negotiated during the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) and entered into force with the establishment of the WTO on January 1, 1995. The agreement aims to reform trade in agriculture and make it fairer and more market-oriented by reducing trade-distorting domestic support, export subsidies, and import barriers.

2. Agreement on the Application of Sanitary and Phytosanitary Measures (SPS Agreement):
This is also a WTO agreement that entered into force in 1995. It sets out the basic rules for food safety and animal and plant health standards. It allows member countries to set their own standards, but these regulations must be based on scientific principles and should not be used as a disguised restriction on international trade.

3. Peace Clause:
The "Peace Clause" is a term commonly used in the context of the WTO's Agreement on Agriculture. Specifically, Article 13 of the Agreement on Agriculture contained a peace clause that barred countries from challenging other countries' agricultural subsidies under WTO dispute mechanisms, provided those subsidies complied with the agreement. Although the original peace clause expired, a new temporary peace clause was agreed upon during the WTO's Bali Ministerial Conference in 2013, which protects developing nations (like India) from being penalized for breaching subsidy ceilings on food procurement for food security programs.

Therefore, all three terms—"Agreement on Agriculture", "Agreement on the Application of Sanitary and Phytosanitary Measures", and "Peace Clause"—are central to the framework and negotiations of the World Trade Organization.