Portugal had their LIST/MEST inspection visit in December 2003, and were subsequently granted mutual recognition status at the end of the year. This means that their licences, approvals etc 'should' be mutually accepted by the other JAA member countries with effect from then.
However, looks like you are converting your FAA licence to JAA in Portugal. In this case, although you might comply with all the JAR-FCL requirements, the Portuguese Authority may still be required by law to enter an endorsement in the licence: 'Issued on the basis of a foreign licence', in which case your licence might not be recognised in other JAA States. Best check with INAC first, then check with the country in which you might be thinking of moving to/flying in.