The colonial history of the Netherlands began in the late 16th century when the Dutch sought to expand their trade and influence overseas. The establishment of the Dutch East India Company in 1602 marked a significant step, allowing the Netherlands to dominate spice trade in Asia, particularly in regions like Indonesia. The Dutch also established colonies in the Americas, such as New Amsterdam, which later became New York City. Throughout the 17th century, the Netherlands became a major colonial power, competing with other European nations. The Dutch engaged in trade, agriculture, and the slave trade, impacting various regions, including the Caribbean and parts of Africa. The decline of Dutch colonial power began in the 18th century, leading to the eventual loss of many territories.