A significant result of the Treaty of Tordesillas, signed in 1494 between Spain and Portugal, was the division of newly discovered lands outside Europe between the two powers, aimed at reducing conflicts over territorial claims. The treaty established an imaginary line in the Atlantic Ocean, west of which Spain was granted rights over the Americas and east of which Portugal could claim territories in Africa and Asia. This division laid the groundwork for the Portuguese Empire in Africa and Asia and the Spanish colonization of large parts of the Americas. It also marked the beginning of European global imperialism and competition for resources.