Usage of "even so"

Hi,

I am not very clear with the usage of "even so".I do not understand what it exactly means and what words can be used synonymously to replace it.Here is a sentence i read today -
"This week's negotiations are the latest in a series of last-ditch attempts to save the trade round. Even so, hardly anyone expects a meaningful result. "
Please explain the what does the usage of "even so" means here.What other transitional words have a similar meaning?

Thanks