What was accomplished by the enactment of the Treaty of Tordesillas in 1334?

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The Treaty of Tordesillas, signed in 1494 (not 1334, which is a mistake in the question), was an agreement between Portugal and Spain, mediated by the Pope, to divide newly discovered lands outside Europe between them along a meridian 370 leagues west of the Cape Verde islands (off the west coast of Africa). This effectively divided the newly discovered lands into those that could be colonized by Spain and those that could be colonized by Portugal, with the aim of settling conflicts over newly discovered lands. It primarily affected the division of South and Central America.

What Was Accomplished by the Enactment of the Treaty of Tordesillas