Abstract: Aspect terms extraction and opinion terms extraction are two key problems of fine-grained Aspect Based Sentiment Analysis (ABSA). The aspect-opinion pairs can provide a global profile about a product or service for consumers and opinion mining systems. However, traditional methods can not directly output aspect-opinion pairs without given aspect terms or opinion terms. Although some recent co-extraction methods have been proposed to extract both terms jointly, they fail to extract them as pairs. To this end, this paper proposes an end-to-end method to solve the task of Pair-wise Aspect and Opinion Terms Extraction (PAOTE). Furthermore, this paper treats the problem from a perspective of joint term and relation extraction rather than under the sequence tagging formulation performed in most prior works. We propose a multi-task learning framework based on shared spans, where the terms are extracted under the supervision of span boundaries. Meanwhile, the pair-wise relations are jointly identified using the span representations. Extensive experiments show that our model consistently outperforms state-of-the-art methods.